Core Insights - IREN reported a significant increase in Bitcoin mining revenue and operational efficiency, with a monthly revenue of 28.2millioninOctober2024,up321.0 million in October 2024, an increase from 0.7millioninSeptember2024,butadecreasefrom1.3 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 32million[3]BitcoinMining−IRENmined439BitcoininOctober2024,upfrom347BitcoininSeptember2024and245BitcoininAugust2024[2]−Theaverageoperatinghashrateincreasedto19.9EH/sinOctober2024,comparedto16.5EH/sinSeptember2024and10.9EH/sinAugust2024[2]−MiningrevenueperBitcoinwas64,165 in October 2024, with electricity costs per Bitcoin reduced to 20,834,downfrom23,603 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]
Iris Energy (IREN) GlobeNewswire News Room·2024-11-06 11:27