Group 1 - The Gross Law Firm has issued a notice to shareholders of Iris Energy Limited (NASDAQ: IREN) regarding a class action lawsuit for those 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] Group 2 - The Gross Law Firm is recognized nationally for its commitment to protecting investors' rights against deceit and fraud, aiming to hold companies accountable for misleading statements that inflate stock prices [3]

Core Viewpoint - The Iris Energy Limited class action lawsuit alleges that the company and its executives made misleading statements regarding its business prospects, particularly related to data centers and high-performance computing, 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, No. 24-cv-07046 (E.D.N.Y.), and it involves purchasers of Iris Energy securities from June 20, 2023, to July 11, 2024 [1]. - Investors have until December 6, 2024, to seek appointment as lead plaintiff in the lawsuit [1]. - The lawsuit claims that Iris Energy overstated its prospects due to deficiencies at its Texas site [3]. Group 2: Stock Price Impact - Following the release of a report by Culper Research on July 11, 2024, which criticized Iris Energy, the company's stock price fell by more than 15% [4]. Group 3: Legal Process and Representation - The Private Securities Litigation Reform Act of 1995 allows any investor who purchased Iris Energy securities during the class period to seek lead plaintiff status [5]. - The lead plaintiff represents the interests of all class members and can choose a law firm for litigation [5]. Group 4: About Robbins Geller - Robbins Geller Rudman & Dowd LLP is a leading law firm specializing in securities fraud cases, having recovered $6.6 billion for investors in class action cases [6]. - The firm has been ranked 1 in securing monetary relief for investors for six out of the last ten years [6].

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].

NEW YORK, Nov. 03, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Iris Energy Limited (NASDAQ: IREN) between June 20, 2023 and July 11, 2024, both dates inclusive (the “Class Period”), of the important December 6, 2024 lead plaintiff deadline. SO WHAT: If you purchased Iris Energy securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrange ...

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $75,000 In Iris Energy To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $75,000 in Iris Energy between June 20, 2023 and July 11, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [Click here to submit your transactions] NEW YORK, Nov. 02, 2024 (GLOBE NEWSWIRE) ...

SAN DIEGO, Nov. 1, 2024 /PRNewswire/ -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Iris Energy Limited (NASDAQ: IREN) publicly traded securities between June 20, 2023 and July 11, 2024, all dates inclusive (the "Class Period"), have until December 6, 2024 to seek appointment as lead plaintiff of the Iris Energy class action lawsuit. Captioned Williams-Israel v. Iris Energy Limited, No. 24-cv-07046 (E.D.N.Y.), the Iris Energy class action lawsuit charges Iris Energy as well as ...