Iris Energy reports 123 bitcoin mined in December

Iris Energy Limited published a monthly investor update for December 2022, containing its results from operations as well as business updates. Corporate: 2.0 EH/s of total miner capacity installed, in-transit or pending deployment; Following month end, ~0.4 EH/s of S19j Pro miners was installed, increasing total Company operating capacity by greater than30% to 1.5 EH/s4; 160MW of data center capacity in BC not affected by recent BC Government decision to temporarily suspend new and early stage connection requests for cryptocurrency mining; Liquidity position and initiatives: $39 million cash, no debt; Repayment by Non-Recourse SPV 1 of all outstanding amounts under the SPV 1 Financing Agreement; Following month end, ~$6 million in net cash proceeds received from further monetization of Bitmain prepayments. Operations for the month of December 2022: Average operating hashrate of 1,086 PH/s; Monthly operating revenue of US$2.1 million; 123 Bitcoin mined. The reduction in operating metrics primarily reflects the first full month of operations following termination of hosting arrangements in connection with certain of the Group’s limited recourse equipment financing facilities following receipt of an acceleration notice from the relevant lender under such facilities.