Exhibit
No.
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Description
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Iris Energy Limited, August 2023 Monthly Investor Update, dated September 6, 2023
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Iris Energy Limited
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Date: September 6, 2023
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By:
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/s/ Daniel Roberts
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Daniel Roberts
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Co-Chief Executive Officer and Director
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Key metrics2
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Aug-23
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Average operating hashrate (PH/s)
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5,493
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Bitcoin mined
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410
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Mining revenue (US$’000)
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11,459
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Electricity costs (US$’000)
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4,342
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Revenue per Bitcoin (US$)
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27,937
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Electricity costs per Bitcoin (US$)
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10,586
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• |
Free electricity at Childress in August
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o |
Negative realized electricity costs of ~US$0.08/kWh3
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o |
Company was effectively paid ~$28k per Bitcoin to take power at Childress and generated a further ~$28k per Bitcoin in mining revenue (i.e. ~$56k mining profit4 per Bitcoin at Childress)
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o |
580MW of additional power available at Childress for expansion
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• |
Targeting next-gen compute and generative AI with NVIDIA H100 GPUs
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o |
Initial purchase of 248 NVIDIA H100 GPUs for ~US$10 million5
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o |
Bitcoin mining remains core; next-gen compute represents additional opportunity
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• |
Childress construction (Phase 1, first 100MW)
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o |
Mass grading civil works complete, data center concrete foundation works commenced
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o |
Construction remains on track for 20MW to 100MW expansion
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o |
Supports hashrate growth from 5.6 EH/s to 9.1 EH/s6
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• |
Further assess the appropriateness of its next-generation data centers for servicing adjacent computing markets such as generative AI7
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• |
Demonstrate capability to prospective customers
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![]() |
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Childress – Phase 1 (100MW) construction progress
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Childress – second data center building foundation
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Operating
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Jun-23
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Jul-23
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Aug-23
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Renewable energy usage (MW)9
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169
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170
|
168
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Avg operating hashrate (PH/s)
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5,587
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5,562
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5,493
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Financial (unaudited)2
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Jun-23
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Jul-23
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Aug-23
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Bitcoin mined
|
428
|
423
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410
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Mining revenue (US$’000)
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11,653
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12,660
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11,459
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Electricity costs (US$’000)3
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5,572
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6,552
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4,342
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Revenue per Bitcoin (US$)
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27,211
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29,939
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27,937
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Electricity costs per Bitcoin (US$)
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13,011
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15,494
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10,586
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Site
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Capacity
(MW)
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Capacity
(EH/s)10
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Timing
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Status
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Canal Flats (BC, Canada)
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30
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0.8
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Complete
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Operating
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Mackenzie (BC, Canada)
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80
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2.6
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Complete
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Operating
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Prince George (BC, Canada)
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50
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1.6
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Complete
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Operating
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Total (BC, Canada)
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160
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5.0
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Childress (Texas, USA)
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20
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0.6
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Complete
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Operating
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Total Operating (Canada & USA)
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180
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5.6
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Childress (Texas, USA)
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80
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3.56
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Early 202411
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Under construction
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Total (Canada & USA)
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260
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9.1
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• |
100% renewables: Iris Energy targets sites with low-cost, under-utilized renewable energy, and supports local communities
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• |
Long-term security over infrastructure, land and power supply: Iris Energy builds, owns and operates its electrical infrastructure and proprietary data centers, providing long-term security and operational
control over its assets
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• |
Seasoned management team: Iris Energy’s team has an impressive track record of success across energy, infrastructure, renewables, finance, digital assets and data centers with cumulative experience in
delivering >$25bn in energy and infrastructure projects globally
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