management methods; any laws, regulations and ethical standards that may relate to IREN's business, including those that relate to Bitcoin and the Bitcoin mining industry and those that relate to any other services it offers, including laws and regulations related to data privacy, cybersecurity and the storage, use or processing of information and consumer laws; IREN's ability to attract, motivate and retain senior management and qualified employees; increased risks to IREN's global operations including, but not limited to, political instability, acts of terrorism, theft and vandalism, cyberattacks and other cybersecurity incidents and unexpected regulatory and economic sanctions changes, among other things; climate change, severe weather conditions and natural and man-made disasters that may materially adversely affect IREN's business, financial condition and results of operations; public health crises, including an outbreak of an infectious disease (such as COVID-19) and any governmental or industry measures taken in response; IREN's ability to remain competitive in dynamic and rapidly evolving industries; damage to IREN's brand and reputation; expectations relating to Environmental, Social or Governance issues or reporting; the costs of being a public company; the increased regulatory and compliance costs of IREN ceasing to be a foreign private issuer and an emerging growth company, as a result of which we will be required, among other things, to file periodic reports and registration statements on U.S. domestic issuer forms with the SEC commencing with our next fiscal year, prepare our financial statements in accordance with U.S. GAAP rather than IFRS, and to modify certain of our policies to comply with corporate governance practices required of U.S. domestic issuers; and other important factors discussed under the caption "Risk Factors" in IREN's annual report on Form 20-F filed with the SEC on August 28, 2024 as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC's website at www.sec.gov and the Investor Relations section of IREN's website at https://investors.iren.com.

These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this investor update. Any forward-looking statement that IREN makes in this investor update speaks only as of the date of such statement. Except as required by law, IREN disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.

About IREN

IREN is a leading 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 
      50 EH/s in H1 2025. Operations since 2019. 
 
   -- AI Cloud Services: providing cloud compute to AI customers, 1,896 NVIDIA 
      H100 & H200 GPUs. Operations since 2024. 
 
   -- Next-Generation Data Centers: 510MW of operating data centers, expanding 
      to 810MW in H1 2025. Specifically designed and purpose-built 
      infrastructure for high-performance and power-dense computing 
      applications. 
 
   -- Technology: technology stack for performance optimization of AI Cloud 
      Services and Bitcoin Mining operations. 
 
   -- Development Portfolio: 2,310MW of grid-connected power secured across 
      North America, >2,000 acre property portfolio and additional development 
      pipeline. 
 
   -- 100% Renewable Energy (from clean or renewable energy sources or through 
      the purchase of RECs): targets sites with low-cost & underutilized 
      renewable energy, and supports electrical grids and local communities. 

Contacts

 
     Media                             Investors 
      Jon Snowball                      Lincoln Tan 
      Sodali & Co                       IREN 
      +61 477 946 068                   +61 407 423 395 
      Megan Boles                       lincoln.tan@iren.com 
      Aircover Communications 
      +1 562 537 7131 
      megan.boles@aircoverpr.com 
 

To keep updated on IREN's news releases and SEC filings, please subscribe to email alerts at https://iren.com/investor/ir-resources/email-alerts.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/0ab2d3f8-8618-4867-a3de-f8e9ad0f10ee

https://www.globenewswire.com/NewsRoom/AttachmentNg/5c12df6b-7738-47a2-bc7a-8d93f26de8ab

(END) Dow Jones Newswires

December 23, 2024 06:24 ET (11:24 GMT)