20 EH/s expansion fully funded - Seite 2

Childress (August 2023)
20MW operating data center Childress (March 2024)
Expansion to 100MW in H1 2024 nearing completion
Expansion to 300MW in H2 2024 underway

Assumptions and Notes

• Cash of $301m reflects USD equivalent, unaudited preliminary cash, cash equivalents and term deposits as of March 29, 2024 plus ATM proceeds to be received first week of April 2024 from shares sold on or prior to March 29, 2024. Between March 16, 2024 and March 29, 2024 the Company raised $72m in gross proceeds from the sale of 13.6m shares. Remaining capacity under existing ATM of $166m. Total number of ordinary shares outstanding as of March 29, 2024 is 141,094,782, including shares sold through the ATM on or prior to March 29, 2024
• Illustrative Annualized Hardware Profit = revenue less assumed electricity costs (excludes all other site, overhead and REC costs)
• Illustrative Annualized Hardware Profit (AI Cloud Services): calculations assume 1.25kW power draw required for 1 GPU, $0.05/kWh electricity costs and $2.00-2.50 per GPU hour revenue assumption. Hardware capex assumes ~$40k per GPU
• Illustrative Annualized Hardware Profit (Bitcoin Mining, post-halving): calculations assume hardware operates at 100% uptime and $0.04/kWh electricity costs. Source: Coinwarz Bitcoin Mining Calculator. Inputs: 20,000 PH/s (hashrate), ~595 EH/s (global hashrate), $70,000 (BTC price), 3.125 BTC (block reward), 0.3 BTC (transaction fees), 0.2% (pool fees), 440MW (power consumption). These inputs and assumptions are based on current and historical market conditions which may be different in the future
• 12 EH/s of additional Bitcoin mining hardware comprises Bitmain T21 miner purchases of 3 EH/s and T21 miner purchase options of 9 EH/s. Final decisions with respect to exercising miner purchase options will be made during 2024 taking into consideration market conditions
  

About IREN

IREN is a leading next-generation data center business powering the future of Bitcoin, AI and beyond utilizing 100% renewable energy.

• Bitcoin Mining: providing security to the Bitcoin network, expanding to 20 EH/s in 2024. Operations since 2019.
• AI Cloud Services: providing cloud compute to AI customers, expanding to 816 NVIDIA H100 GPUs. Operations since 2024.
• Next-Generation Data Centers: 220MW of operating data centers, expanding to 460MW in 2024. Specifically designed and purpose-built infrastructure for high-performance and power-dense computing applications.
• Technology: technology stack for performance optimization of AI Cloud Services, Bitcoin Mining and energy trading operations.
• Development Portfolio: 2,160MW of secured power capacity across North America, >1,000 acre property portfolio and additional development pipeline.
• 100% Renewable Energy: targets sites with low-cost & underutilized renewable energy, and supports electrical grids and local communities.

Contacts