Iris Energy mines 428 bitcoin in June

Corporate: Prior high-performance computing data center strategy revitalized; Recent discussions with prospective HPC partners have further validated previous work and attractive positioning: 100% renewable energy; Expertise in building and operating data centers for high power density applications; Significant available power, including 500MW at Childress. Expansion of Bitcoin mining: Record average operating hashrate during June of 5.6 EH/s; Targeting expansion from 5.6 EH/s to ~9.1 EH/s of potential data center capacity by early 2024. Operations: Average operating hashrate of 5,587 PH/s; Monthly operating revenue of $11.7M; 428 Bitcoin mined; ~$0.6M of estimated power sales at Childress via automated algorithm. The reduction in monthly operating revenue and Bitcoin mined primarily reflects the reversion in network transaction fees and increase in difficulty-implied global hashrate during the period. Construction: Childress: 20MW data center operating, with remaining 80MW under construction; Long-lead items ordered for second 100MW; Rapid, efficient and near-term growth pathway for subsequent 400MW.