Iris Energy (US:IREN)2025-07-02 07:11Operational Highlights - Iris Energy has expanded its operating capacity to 5.5 EH/s, completing the expansion in 12 weeks[11, 12] - The company is undertaking an expansion to 6.5 EH/s, representing an 18% growth in operating capacity, which is fully funded[15, 16] - The company's current operating capacity of 5.5 EH/s is delivering approximately $7.5 million in monthly mining profit[14] Financial Position - Iris Energy reports a robust balance sheet with $54.8 million in cash and no debt[14, 21] - An additional $35 million in incremental capital expenditure is planned, assuming the latest generation Bitmain S19 XP miners[21] - The company has sold 4,495,442 ordinary shares, generating $14.3 million in net proceeds, under a committed equity facility[17] Childress Site Development - The Childress site has a total power capacity of 600MW, with the initial 20MW commissioned and the next 20MW underway[22, 25] - The Childress site utilizes a technology-driven approach to automatically integrate data across multiple sources to optimize power costs[39] Mining Profitability - At a Bitcoin price of $30,000, the current 5.5 EH/s capacity could generate $90 million in annualized mining profit, while the expanded 6.5 EH/s capacity could generate $110 million[41] Ownership and Coverage - Founders, board, and management own approximately 22% of Iris Energy, aligning interests[49, 50]