IREN appoints Morgan Stanley as Financial Advisor

Business Overview - IREN is a next-generation data center business focused on Bitcoin mining, AI cloud services, and high-performance computing applications [1][7] - The company operates with 100% renewable energy, targeting low-cost and underutilized renewable energy sources [2][7] Bitcoin Mining Operations - IREN has been operating Bitcoin mining since 2019, providing security to the Bitcoin network [2] - The company plans to expand its Bitcoin mining capacity to 30 EH/s by 2024 [2] AI Cloud Services - IREN launched AI cloud services in 2024, offering cloud compute solutions powered by 816 NVIDIA H100 GPUs [2] - The company is evaluating monetization opportunities in the AI data center market with Morgan Stanley as its financial advisor [6] Data Center Infrastructure - IREN currently operates 260MW of data centers, with plans to expand to 510MW by 2024 [2] - The data centers are specifically designed for high-performance and power-dense computing applications [2] Development Portfolio - IREN has secured 2,160MW of power capacity across North America [2] - The company owns a property portfolio exceeding 1,000 acres, with additional development pipelines [2] Technology and Optimization - IREN has developed a technology stack to optimize performance for AI cloud services, Bitcoin mining, and energy trading operations [2] Renewable Energy Commitment - IREN utilizes 100% renewable energy, either directly from clean sources or through the purchase of Renewable Energy Certificates (RECs) [2] - The company supports electrical grids and local communities through its renewable energy initiatives [2]