Core Viewpoint - Rosen Law Firm is reminding investors who purchased securities of Iris Energy Limited during the specified Class Period of the upcoming lead plaintiff deadline on December 6, 2024 [1]. Group 1: Class Action Details - Investors who purchased Iris Energy securities between June 20, 2023, and July 11, 2024, may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties can join by contacting the law firm [3][6]. - The lawsuit alleges that Iris Energy made materially false and misleading statements regarding its business prospects, particularly related to its data centers and high-performance computing capabilities [5]. Group 2: Law Firm Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements, including the largest securities class action settlement against a Chinese company at the time [4]. - The firm has been consistently ranked among the top firms for securities class action settlements and has recovered hundreds of millions of dollars for investors [4].

Company Performance - Iris Energy Ltd reported first-quarter Bitcoin mining revenue of $49.6 million and a 28% increase in AI Cloud Services revenue quarter-over-quarter to $3.2 million [1][2] - The company mined 813 Bitcoin during the quarter and ended with $98.6 million in cash and cash equivalents, with a total cash balance of $182.4 million as of October 31 [2] Financial Metrics - Adjusted EBITDA for the quarter was $2.6 million [2] - Following the earnings announcement, analysts adjusted their price targets for Iris Energy, with HC Wainwright & Co. raising it from $13 to $16, Canaccord Genuity from $15 to $17, and Cantor Fitzgerald from $20 to $23 [2] Growth Outlook - The company aims to achieve a mining capacity milestone of 31 EH/s shortly and plans to accelerate growth to 50 EH/s in the first half of 2025, previously set for the second half of 2025 [2] - Iris Energy shares increased by 29.1% to trade at $12.34 following the earnings report [2]

Core Insights - IREN is accelerating its Bitcoin mining expansion to 50 EH/s by H1 2025, previously planned for H2 2025, with a current operational hashrate of 21 EH/s and a target of 31 EH/s next month [2][3][20] - The company is focusing on alternative funding instruments to enhance operational flexibility and support potential investor distributions in 2025 [2][4] - IREN is transitioning to U.S. domestic issuer status in 2025, which includes adopting U.S. GAAP reporting [4] Financial Performance - Bitcoin mining revenue for Q1 FY25 was $49.6 million, down from $54.3 million in Q4 FY24, attributed to increased network difficulty and lower Bitcoin prices [5] - AI Cloud Services revenue increased by 28% to $3.2 million compared to $2.5 million in Q4 FY24, driven by additional GPU commissions [5] - Adjusted EBITDA for Q1 FY25 was $2.6 million, a significant decrease from $12.2 million in Q4 FY24, with a net loss after income tax of $51.7 million compared to a loss of $27.1 million in Q4 FY24 [5][8] Operational Updates - The company has secured S21 Pro miners at a fixed price of $18.9/TH and is committed to a non-HODL approach with a focus on prudent capital stewardship [3][20] - IREN is installing liquid cooling infrastructure to support NVIDIA Blackwell GPUs at its Childress and Prince George sites [4] - The company is advancing its development activities for a pipeline exceeding 1 GW of power capacity [4][20] Strategic Initiatives - IREN is committed to utilizing 100% renewable energy, supporting local communities and energy grids [3][20] - The company is focused on measured growth in AI Cloud Services, responding to customer demand [4] - IREN's development portfolio includes 2,310 MW of grid-connected power secured across North America [20]

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Iris Energy Limited regarding a class action lawsuit due to alleged misleading statements and omissions related to the company's business prospects and operations [1][3]. Group 1: Class Action Details - The class period for the lawsuit is from June 23, 2023, to July 11, 2024 [3]. - Allegations include that Iris Energy overstated its prospects related to data centers and high-performance computing, particularly due to deficiencies at its Childress County, Texas site [3]. - The lawsuit claims that the defendants' statements about the company's business and operations were materially false and misleading [3]. Group 2: Shareholder Actions - Shareholders are encouraged to register for the class action by December 6, 2024, to potentially be appointed as lead plaintiffs [4]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the case's status [4]. - Participation in the case incurs no cost or obligation for the shareholders [4]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm focused on protecting investors' rights against deceit and fraud [5]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [5].

Core Viewpoint - A class action lawsuit has been filed against Iris Energy Limited (NASDAQ: IREN) for allegedly misleading investors about its data center and high-performance computing prospects [1][2]. Allegations - The lawsuit claims that Iris Energy overstated its prospects due to material deficiencies at its Childress County, Texas site [2]. - A report by Culper Research on July 11, 2024, titled "Iris Energy Ltd (IREN): A Prius at the Grand Prix," led to a stock price drop of over 15% [3]. Class Action Participation - Investors who purchased Iris Energy securities between June 20, 2023, and July 11, 2024, may be eligible to participate in the class action [1][4]. - Shareholders interested in serving as lead plaintiffs must submit their applications by December 6, 2024 [4]. Legal Representation - Robbins LLP, a law firm specializing in securities class actions, is representing the shareholders on a contingency fee basis, meaning no fees or expenses are required upfront [5][6].

Core Viewpoint - A securities class action lawsuit has been filed against Iris Energy Limited for allegedly making false statements regarding its business prospects during the Class Period from June 20, 2023, to July 11, 2024 [1][3]. Company Overview - Iris Energy Limited, based in Sydney, Australia, positions itself as a leading next-generation data center business focused on Bitcoin, AI, and high-performance computing (HPC) [3]. Lawsuit Details - The lawsuit claims that Iris Energy overstated its prospects related to data centers and HPC, primarily due to significant deficiencies at its Childress County, Texas site [3]. - On July 11, 2024, a report by Culper Research revealed the true state of Iris' business, accusing the company of misrepresenting its capabilities in HPC and AI applications [4]. - Following the publication of this report, Iris Energy's share price dropped by 15%, closing at $11.20 per share on the same day [5]. Investor Participation - Investors who purchased Iris Energy securities during the Class Period have until December 6, 2024, to seek appointment as lead plaintiff representatives in the class action [2].

Core Viewpoint - Rosen Law Firm is reminding investors who purchased Iris Energy Limited securities during the specified Class Period of the upcoming lead plaintiff deadline for a securities class action lawsuit [1][5]. Group 1: Class Action Details - The Class Period for the securities of Iris Energy Limited is from June 20, 2023, to July 11, 2024 [1]. - Investors may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by December 6, 2024 [3]. Group 2: Legal Representation - Rosen Law Firm emphasizes the importance of selecting qualified counsel with a successful track record in securities class actions [4]. - The firm has achieved significant settlements, including the largest securities class action settlement against a Chinese company at the time [4][9]. - In 2019, the firm secured over $438 million for investors, showcasing its capability in recovering funds for clients [4]. Group 3: Allegations Against Iris Energy - The lawsuit alleges that Iris Energy's defendants made materially false and misleading statements regarding the company's prospects and operations, particularly related to its data centers and high-performance computing [5]. - It is claimed that these misstatements were due to deficiencies at Iris Energy's Childress County, Texas site, leading to investor damages when the truth was revealed [5].

Group 1 - The Gross Law Firm has issued a notice to shareholders of Iris Energy Limited (NASDAQ: IREN) regarding a class action lawsuit [1] - The class period for the lawsuit is from June 23, 2023, to July 11, 2024, with allegations of materially false and misleading statements made by the defendants [2] - The allegations include overstating Iris Energy's prospects related to data centers and high-performance computing due to deficiencies at the Childress County, Texas site [2] Group 2 - Shareholders are encouraged to register for the class action by December 6, 2024, to potentially become lead plaintiffs [3] - Registration allows shareholders to receive updates through portfolio monitoring software during the case lifecycle [3] - The Gross Law Firm aims to protect investors' rights and seeks recovery for losses incurred due to misleading statements or omissions by companies [4]

Core Viewpoint - A class action securities lawsuit has been filed against Iris Energy Limited, alleging securities fraud that affected investors between June 23, 2023, and July 11, 2024 [1][2]. Group 1: Lawsuit Details - The complaint claims that defendants overstated Iris Energy's prospects related to data centers and high-performance computing due to material deficiencies at the Childress County, Texas site [2]. - It is alleged that the statements made by the defendants regarding the company's business, operations, and prospects were materially false and misleading [2]. Group 2: Investor Information - Investors who suffered losses during the specified timeframe have until December 6, 2024, to request appointment as lead plaintiff, although participation does not require serving in this role [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees [3]. Group 3: Legal Firm Background - Levi & Korsinsky has a history of securing hundreds of millions of dollars for shareholders and has extensive expertise in complex securities litigation [4]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the United States [4].

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Iris Energy Limited regarding a class action lawsuit due to alleged misleading statements and omissions related to the company's business prospects and operations [1][2]. Group 1: Class Action Details - The class period for the lawsuit is from June 23, 2023, to July 11, 2024 [2]. - Allegations include that defendants overstated Iris Energy's prospects related to data centers and high-performance computing, particularly due to deficiencies at the Childress County, Texas site [2]. - The lawsuit claims that the statements made by the defendants about the company's business and operations were materially false and misleading [2]. Group 2: Shareholder Actions - Shareholders are encouraged to register for the class action by December 6, 2024, to potentially be appointed as lead plaintiffs [3]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the case's status [3]. - Participation in the case incurs no cost or obligation for shareholders [3]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm focused on protecting investors' rights against deceit and fraud [4]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [4].