IREN - Iris Energy up 14% after update on 5.5 EH/s installation

2023-04-13 10:29:40 ET

• Iris Energy ( NASDAQ: IREN ) provides update on the installation of its 5.5 EH/s of operating capacity. Operating hashrate is increased from 3.1 EH/s to a current level of 3.6 EH/s (as part of the company’s recently announced increase in self-mining capacity to 5.5 EH/s).
• The company also advises that between April 6, 2023 and April 11, 2023, an entity affiliated with Mr. Michael Alfred, a director on the Board of Directors, acquired an additional 75K shares for consideration of ~$264.8K.
• $18M in previous deposits with AEP Texas are expected to be refunded.
• Since March 13, 2023, the relevant affiliated entity has acquired 430.5K shares for total consideration of ~$1.28M.
• Stock price is up 14% on Thursday morning hours.

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