IREN provided a business update. 2024 expansion, now fully funded: $301m cash, no debt; 460MW of data centers and 20 EH/s of Bitcoin mining in 2024; Expansion fully funded, following completion of a targeted ATM equity raising program. Next-generation data centers: 460MW of data center capacity in 2024, with land portfolio and executed connection agreements for 2,160MW of power underpinning continued growth across both AI Cloud Services and Bitcoin mining. AI Cloud Services; 816 NVIDIA H100 GPUs generates an estimated ~$14-17m of annualized hardware profit; 248 GPUs operating + 568 GPUs now undergoing testing and commissioning at our Prince George data center; Recently presented at NVIDIA GTC, with poolside AI’s Co-Founder & CTO joining the stage to highlight the strength of IREN‘s cloud services capabilities. Bitcoin mining: 20 EH/s generates ~$269m of annualized hardware profit; 8 EH/s currently operating and 12 EH/s additional capacity to be progressively shipped and installed during the next 9 months.
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