IREN - Iris Energy hails record revenue in FY23

(NewsDirect)

Iris Energy Limited(NASDAQ:IREN) CEO Dan Roberts tells Proactive the company has returnedrecord revenue for its 2023 financial year as it increased itsoperating hashrate and mined more bitcoin. The sustainable bitcoinmining company posted a 28% increase in revenue to $75.5 million forthe 12 months ended June 30, up from $59 million a year earlier,noting that the increase came despite a decrease in the average priceof bitcoin. Bitcoin mined surged 133% to a record 3,259, primarilydriven by growth in operating hashrate.

“FY23 was a transformational year for IrisEnergy”, Roberts said in a statement.

“We increased our operating hashrate to 5.6 EH/s butimportantly also expanded our power capacity to an industry-leading760MW, thereby activating an expansion pathway to 30 EH/s. We alsoremain excited by our next-gen compute and generative AI strategy,providing an additional potential growth area for thecompany.”

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JonathanJackson

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jonathan@proactiveinvestors.com

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