Exhibit
No.
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Description
|
|
Iris Energy Limited, January 2024 Monthly Investor Update, dated February 7, 2024
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Iris Energy Limited
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||
Date: February 7, 2024
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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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Jan-24
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|
Average operating hashrate (PH/s)
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5,642
|
|
Bitcoin mined
|
341
|
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Mining revenue (US$’000)
|
14,466
|
|
Electricity costs (US$’000)3
|
6,376
|
|
Revenue per Bitcoin (US$)
|
42,436
|
|
Electricity costs per Bitcoin (US$)
|
18,705
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•
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H1 2024 – expansion to 10 EH/s ongoing
|
o
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Operating capacity increased from 5.6 EH/s to 6.2 EH/s as of February 6, 2024
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o
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3.8 EH/s to be shipped and installed in coming months
|
o
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0.9 EH/s of Bitmain S21 miners to be shipped shortly
|
o
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Overall fleet efficiency to improve to 24.8 J/TH
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•
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H2 2024 – pathway from 10 EH/s to 20 EH/s
|
o
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1 EH/s of Bitmain T21 miners purchased
|
o
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9 EH/s of additional Bitmain T21 miner purchase options at $14/TH
|
o
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Overall fleet efficiency to improve to 21.9 J/TH
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•
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Childress construction progress
|
o |
Phase 1 (expansion to 10 EH/s) – on track for H1 2024
|
o
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Phase 2-3 (expansion to 20 EH/s) – site civils & procurement underway for H2 2024 completion
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•
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Phase 1 (100MW)
|
o
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DC 1: operating since April 2023
|
o
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DC 2: energized with miner installation commenced; approximately 0.5 EH/s operational
|
o
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DC 3: building and miner racking installation complete; electrical installation ongoing
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o
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DC 4: building structure complete; miner racking and electrical installation ongoing
|
o
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DC 5: concrete foundations complete; building structure assembly ongoing
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•
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Childress Phase 2-3 (200MW)
|
o
|
Site civil works commenced for Phase 2
|
o
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Electrical procurement underway, including first 138kV transformer on site and second 138kV transformer on order
|
|
||||
Childress – Phase 1 (100MW) construction progress
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Childress – DC 2 mining operations commenced
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Operating
|
Nov-23
|
Dec-23
|
Jan-24
|
|
Renewable energy usage (MW)5,6
|
164
|
161
|
163
|
|
Avg operating hashrate (PH/s)
|
5,551
|
5,576
|
5,642
|
Financial (unaudited)2
|
Nov-23
|
Dec-23
|
Jan-24
|
|
Bitcoin mined
|
369
|
399
|
341
|
|
Mining revenue (US$’000)
|
13,714
|
17,174
|
14,466
|
|
Electricity costs (US$’000)3
|
5,730
|
5,926
|
6,376
|
|
Revenue per Bitcoin (US$)
|
37,155
|
43,056
|
42,436
|
|
Electricity costs per Bitcoin (US$)
|
15,524
|
14,858
|
18,705
|
Site
|
Capacity
(MW)
|
Capacity
(EH/s)7
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Timing
|
Status
|
|
Canal Flats (BC, Canada)
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30
|
0.8
|
Complete
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Operating
|
|
Mackenzie (BC, Canada)
|
80
|
2.6
|
Complete
|
Operating
|
|
Prince George (BC, Canada)
|
50
|
1.6
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Complete
|
Operating
|
|
Childress Phase 1 (Texas, USA)
|
40
|
1.1
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Complete
|
Operating
|
|
Total Operating
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200
|
6.2
|
|||
Childress Phase 1 (Texas, USA)
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60
|
3.88
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H1 20249
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Under construction
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Childress Phase 2-3 (Texas, USA)
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200
|
10.010
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H2 2024
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Under construction
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Total Operating & Construction
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460
|
20.0
|
|||
Childress Phase 4-6 (Texas, USA)
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300
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TBD
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Power available
|
||
Development Site (Texas, USA)
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1,400
|
Late 2026
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Connection underway
|
||
Total Capacity
|
2,160
|
•
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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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•
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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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