Core Viewpoint - The Gross Law Firm is notifying 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 Iris Energy overstated its prospects related to data centers and high-performance computing, particularly due to deficiencies at its Childress County, Texas site [2]. - The lawsuit claims that the defendants' statements 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 the 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].

Core Insights - IREN reported a significant increase in Bitcoin mining revenue and operational efficiency, with a monthly revenue of $28.2 million in October 2024, up 32% from September 2024, driven by a ramp-up in operating hashrate to 21 EH/s and higher Bitcoin prices [2][3] - The company is expanding its AI Cloud Services, commissioning an additional 1,080 NVIDIA H200 GPUs, which will enhance its data center capabilities [2][3] - IREN is in ongoing discussions with multiple hyperscalers regarding monetization structures for its data centers, indicating potential growth in revenue streams [5] AI Cloud Services - AI Cloud Services revenue reached $1.0 million in October 2024, an increase from $0.7 million in September 2024, but a decrease from $1.3 million in August 2024 [2] - The company has installed 816 NVIDIA H100 GPUs and is currently commissioning 1,080 NVIDIA H200 GPUs, which together utilize less than 0.5% of IREN's data center capacity [3] - The annualized hardware profit from AI Cloud Services is projected at $32 million [3] Bitcoin Mining - IREN mined 439 Bitcoin in October 2024, up from 347 Bitcoin in September 2024 and 245 Bitcoin in August 2024 [2] - The average operating hashrate increased to 19.9 EH/s in October 2024, compared to 16.5 EH/s in September 2024 and 10.9 EH/s in August 2024 [2] - Mining revenue per Bitcoin was $64,165 in October 2024, with electricity costs per Bitcoin reduced to $20,834, down from $23,603 in September 2024 [2] Data Centers - The target energization date for the 1.4GW site has been accelerated to April 2026, with ongoing procurement for key electrical items [4] - IREN's total operating data center capacity is currently 360 MW, with plans for further expansion [5] - The company is actively pursuing monetization opportunities through powered land leases, colocation, and build-to-suit options [5] Corporate Developments - IREN is scheduled to release its 1Q FY25 earnings in the coming weeks, which will provide further insights into its financial performance [2] - The company is participating in several upcoming industry conferences, including the Cantor Crypto, Digital Assets & AI Infrastructure Conference in Miami [7]

Core Viewpoint - A class action lawsuit has been filed against Iris Energy Limited for allegedly making false and misleading statements regarding its business prospects and operations during the specified Class Period [1][3]. Summary by Relevant Sections Lawsuit Details - The lawsuit was filed in the United States District Court for the Eastern District of New York on behalf of all individuals and entities who purchased Iris Energy securities between June 20, 2023, and July 11, 2024 [1]. - Investors have until December 6, 2024, to apply to the Court to be appointed as lead plaintiff in the lawsuit [1]. Allegations Against Iris Energy - Defendants are accused of overstating Iris Energy's prospects related to data centers and high-performance computing due to material deficiencies at the company's site in Childress County, Texas [3]. - The lawsuit claims that the statements made by the defendants regarding the company's business, operations, and prospects were materially false and misleading, lacking a reasonable basis throughout the Class Period [3]. - Investors reportedly suffered damages when the true details about the company's situation became public [3].

Core Viewpoint - A securities class action lawsuit has been filed against Iris Energy Ltd. for allegedly making false or misleading statements regarding its business prospects during the Class Period from June 20, 2023, to July 11, 2024 [1][2]. Company Overview - Iris Energy Ltd. is based in Sydney, Australia, and positions itself as a leading next-generation data center business focused on powering Bitcoin, AI, and other technologies [2]. Lawsuit Details - The lawsuit claims that throughout the Class Period, the defendants overstated Iris' prospects related to data centers and high-performance computing (HPC), primarily due to material deficiencies at its Childress County, Texas site [2]. - Investors who purchased IRIS securities during the Class Period can seek to be appointed as lead plaintiff representatives by December 6, 2024 [2].

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: Allegations and Class Period - The class period for the allegations is from June 23, 2023, to July 11, 2024 [1]. - The complaint claims that defendants overstated Iris Energy's prospects related to data centers and high-performance computing, primarily due to deficiencies at the Childress County, Texas site [1]. - It is alleged that the defendants' statements about the company's business, operations, and prospects were materially false and misleading, lacking a reasonable basis throughout the relevant period [1]. Group 2: Next Steps for Shareholders - Shareholders who purchased shares during the specified class period are encouraged to register for the class action, with a deadline of December 6, 2024, to seek lead plaintiff status [2]. - Upon registration, shareholders will be enrolled in a portfolio monitoring software to receive updates on the case's status [2]. - Participation in the case incurs no cost or obligation for the shareholders [2]. Group 3: About the Gross Law Firm - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit, fraud, and illegal business practices [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements or omissions that inflated stock prices [3].

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 on December 6, 2024 [1] Group 1: Class Action Details - Investors who bought Iris Energy securities between June 20, 2023, and July 11, 2024, may be eligible for 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 Rosen Law Firm [3][6] - To serve as lead plaintiff, individuals must file a motion with the court by December 6, 2024 [3] Group 2: Case Allegations - The lawsuit alleges that defendants made materially false and misleading statements regarding Iris Energy's business prospects, particularly related to 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 3: Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved the largest settlement against a Chinese company and being ranked No. 1 for securities class action settlements in 2017 [4][9] - The firm has recovered hundreds of millions of dollars for investors, with over $438 million secured in 2019 alone [4][9]

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Iris Energy Limited due to allegations of misleading statements regarding the company's business prospects and operations, particularly related to its data centers and high-performance computing capabilities [3][4]. Group 1: Legal Investigation and Class Action - The law firm is encouraging investors who suffered losses exceeding $75,000 in Iris Energy between June 20, 2023, and July 11, 2024, to discuss their legal rights [1]. - A federal securities class action has been filed against Iris Energy, with a deadline of December 6, 2024, for investors to seek the role of lead plaintiff [1][5]. - The complaint alleges that Iris Energy and its executives violated federal securities laws by making false and misleading statements about the company's prospects and operations [3]. Group 2: Company Performance and Market Reaction - On July 11, 2024, Culper Research issued a report taking a short position in Iris Energy, claiming the company is misrepresenting its capabilities as a high-performance computing data center [4]. - Following the report, Iris Energy's stock fell by $1.70 per share, or 13.1%, closing at $11.20 per share on the same day [4]. Group 3: Company Background and Contact Information - Faruqi & Faruqi, LLP is a national securities law firm with a history of recovering hundreds of millions of dollars for investors since its founding in 1995 [2]. - The firm is also seeking information from whistleblowers, former employees, and shareholders regarding Iris Energy's conduct [6].

Core Viewpoint - Iris Energy Limited is facing a class action lawsuit for allegedly making false statements regarding its business prospects and failing to disclose material deficiencies at its Texas site, leading to significant stock price declines [3][4]. Group 1: Class Action Lawsuit Details - The class action lawsuit is titled Williams-Israel v. Iris Energy Limited and covers purchasers of Iris Energy securities from June 20, 2023, to July 11, 2024, with a deadline of December 6, 2024, for lead plaintiff applications [1]. - The lawsuit alleges that Iris Energy and its executives violated the Securities Exchange Act of 1934 by overstating the company's prospects related to data centers and high-performance computing [3]. - Following a report from Culper Research on July 11, 2024, Iris Energy's stock price dropped by over 15% [4]. Group 2: Lead Plaintiff Process - The Private Securities Litigation Reform Act of 1995 allows any investor who acquired Iris Energy securities during the class period to seek lead plaintiff status, representing the interests of the class [5]. - The lead plaintiff is typically the investor with the greatest financial interest and must be typical and adequate of the class [5]. Group 3: About Robbins Geller - Robbins Geller Rudman & Dowd LLP is a prominent law firm specializing in securities fraud cases, having recovered $6.6 billion for investors in class action cases, significantly more than any other firm in recent years [6]. - The firm has been ranked 1 in securing monetary relief for investors in six out of the last ten years [6].

Core Points - The Gross Law Firm has issued a notice to shareholders of Iris Energy Limited (NASDAQ: IREN) regarding a class action lawsuit for shareholders who purchased shares during the class period from June 23, 2023, to July 11, 2024 [1] - The allegations state that the defendants made materially false and misleading statements about Iris Energy's business prospects, particularly related to data centers and high-performance computing, due to deficiencies at the Childress County, Texas site [1] - Shareholders are encouraged to register for the class action by December 6, 2024, to potentially be appointed as lead plaintiff and to receive updates on the case [2] Company and Industry Summary - The Gross Law Firm is a nationally recognized class action law firm focused on protecting investors' rights against deceit and fraud in business practices [3] - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements or omissions that inflated stock prices [3]

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 to be appointed as lead plaintiff, although participation in any recovery does not require serving as a lead plaintiff [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees [3]. Group 3: Law Firm Background - Levi & Korsinsky has a history of securing hundreds of millions of dollars for shareholders and has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4].