IREN Achieves 31 EH/s Year-End Target

Core Insights - IREN Limited has achieved a self-mining capacity of 31 EH/s, exceeding its initial target of 20 EH/s for the year [1][15] - The company is on track to reach a target of 50 EH/s by the first half of 2025 [3][11] Company Performance - The operating data center capacity at Childress has expanded from 20 MW to 350 MW, representing a growth of over 17 times [2] - Following the completion of Childress Phase 3, the installed self-mining capacity increased from 28 EH/s to 31 EH/s, achieving an efficiency of 15 J/TH with 510 MW of operating data centers [10][16] Future Growth Plans - IREN plans to expand its operating data centers to 810 MW in the first half of 2025 [8] - The company has secured a development portfolio of 2,310 MW of grid-connected power across North America, with additional expansion potential [8] Operational Efficiency - IREN is recognized as one of the fastest-growing and lowest-cost Bitcoin miners globally, supported by industry-leading efficiency and low electricity costs [16] - The company has a proven execution capability, with ongoing construction for Childress Phases 4 and 5, which will add 300 MW of capacity [17] Technology and Infrastructure - IREN utilizes 100% renewable energy for its operations, targeting sites with low-cost and underutilized renewable energy [7][8] - The company has a technology stack designed for performance optimization in both Bitcoin mining and AI cloud services [8]