Iris Energy Ltd.
4.08 %
-32.1 %
Yet to be announced
Company Overview
Iris Energy Ltd is a Bitcoin mining company that develops, owns and operates data centers and electrical infrastructure for the mining of Bitcoin. The company focuses on building sustainable, institutional-grade Bitcoin mining data centers powered by 100% renewable energy. Their operations are primarily located in Canada and the United States.
Revenue Sources
PassBased on the financial data provided, Iris Energy's primary revenue source comes from Bitcoin mining operations, which involves providing computational power to validate transactions on the Bitcoin network in exchange for Bitcoin rewards. This activity involves real asset exchange and value creation through the provision of computing services. The company does not engage in gambling, betting, or zero-sum games.
Reliance on Interest
| Reporting Date | Total Revenue | Total Expense | Interest Income | Interest Expense | Interest Income Ratio | Interest Expense Ratio |
|---|---|---|---|---|---|---|
| June 30, 2024 | $58.36m | $88.42m | $2.95m | $63,000 | 5.06% | 0.07% |
| March 31, 2024 | $53.95m | $47.45m | $1.5m | $126,000 | 2.78% | 0.27% |
| Dec. 31, 2023 | $42.05m | $44.78m | $665,000 | $30,000 | 1.58% | 0.07% |
| Sept. 30, 2023 | $42.05m | $44.78m | - | $30,000 | 0.00% | 0.07% |
Analyzing the last four quarters of financial data, both interest income and interest expense are minimal relative to the company's total revenue and expenses. Interest expenses have remained consistently low, ranging from $30,000 to $126,000 per quarter, while total expenses ranged from $44.7M to $88.4M. Interest income, while higher than interest expense, is not a core part of the business model and appears to be from cash management activities.
Operational Ethics
PassBased on available information from SEC filings and the company's public disclosures, Iris Energy's operations are primarily in Canada and the United States. There is no evidence of material ongoing associations with entities involved in human rights violations such as the state of Israel or the Chinese Communist Party.
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