Iris Energy posted a net loss of $144 million, mainly due to a $105.2 million non-cash impairment charge in part related to its equipment financing, and said it mined fewer bitcoin in the quarter end...
Tag: Iris
Iris Energy to Triple Mining Capacity With Thousands of New Rigs
Iris Energy, a Bitcoin (BTC) mining firm located in Australia, has said that it plans to roughly increase its mining capacity by adding thousands of mining rigs. The company said on February 13 that i...
Iris Energy to nearly triple hash rate with estimated 44,000 new BTC miners
Australia-based Bitcoin (BTC) mining company Iris Energy has revealed it will nearly triple its mining capacity with the addition of thousands of mining rigs. On Feb. 13 the firm said it purchased an ...
Iris Energy Plans Boosting Internal Mining Capacity to 5.5 EH/s
2 hours ago | 2 mins read Bitcoin News The debt it incurred from the 10 EH/s deal with Bitmain has been completely settled. Iris is contemplating liquidating any miners it has that are beyond its 5.5 ...
Iris Energy Boosts Self-Mining Capacity With 4.4 EH/s of New Bitmain Bitcoin Mining Rigs – Mining Bitcoin News
Bitcoin miner, Iris Energy, announced plans to increase the company’s self-mining capacity, from 2 exahash per second (EH/s) to approximately 5.5 EH/s, after it receives 4.4 EH/s of new Antminer S19j ...
Bitcoin miner Iris Energy revenue falls 27% in December
Bitcoin mining firm Iris Energy reported that its operating revenue declined 27% in December compared to the previous month to $2.1 million — reflecting the first full month of operations after termin...
Iris Energy CEO: you can’t kill bitcoin
According to Iris Energy CEO Dan Roberts, computers and the internet have solved a multi-thousand-year monetary problem facing the world through the creation of bitcoin. Dan Roberts: Bitcoin is second...
Crypto Miner Iris Energy Hit by Class Action Suit
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Iris Energy mining rigs set to go offline following $108M loan default
Slumping Bitcoin prices, paired with record-high hash rates and increasing energy prices, have caught up with Bitcoin miner Iris Energy. The Australia-based mining firm is set to take a significant c...
Iris Energy Slashes Bitcoin Mining Capacity Due to a Requested Loan
Iris Energy – an Australian crypto mining company whose main purview is the operation of BTC mining sites in Canada running on renewable energy exclusively – has recently ceased mining in two subsidia...
Iris Energy to eliminate mining equipment following $108M loan default
The current bear market in cryptocurrencies has claimed another victim: the Australian-based Bitcoin mining company Iris Energy. This makes Iris Energy the latest company to fall victim to the bear ma...
Iris Energy to cut mining hardware after defaulting on $108M loan
Australian Bitcoin mining firm Iris Energy is the latest to suffer from the squeeze of the crypto bear market, losing a significant chunk of its mining power after defaulting on a loan. A filing by th...
Iris Energy Defaults on $100 Million Loan, Cuts Mining Hardware
Australian Bitcoin miner Iris Energy is set to lose 3.6 Exahashes/second of mining power after defaulting on a $108 million loan. Iris Energy will not pay loans taken against the equipment operated by...
Bitcoin miner Iris Energy unplugs hardware collateralizing over $100 million in loans
Bitcoin miner Iris Energy has unplugged a large majority of its miners in response to a default notice on about $107.8 million in loans they were securing. However, the company said that its dat...
Bitcoin Mining Firm Iris Energy Receives $103M Default Notice
10 seconds ago | 2 mins read Bitcoin News The company’s average mining hash rate in October was 3.9 EH/s. As it stands, the company looks to have fallen on hard times due to a confluence of factors. B...
Riot Blockchain, Argo, and Iris – How is Q4 going for crypto-mining
Companies operating in the crypto-mining sector have not had the best of starts in the last quarter of 2022. Several discouraging reports have come out over the past few days, each of which indicates ...
2 Lenders Claim Bitcoin Miner Iris Energy Defaulted on Equipment Loans Worth $103 Million – Mining Bitcoin News
Another bitcoin mining company is dealing with financial issues as Iris Energy’s Form 6-K filing with the U.S. Securities and Exchange Commission (SEC) shows the company could face default on two loan...
Bitcoin miner Iris Energy faces $103M default claim from creditors
According to a new filing with the U.S. Securities and Exchange Commission on Monday, Bitcoin (BTC) miner Iris Energy says it has received a default notice from mining rig manufacturer Bitmain Technol...
Bitcoin Miner Iris Energy Faces Default Claim on $103M of Equipment Loans
The reason for the notice of default, which the lender sent to the miner on Nov. 4, is the company failed to engage in “good faith restructuring discussions” for the debt in question, acco...
Iris Energy receives default notice on $103 million
Bitcoin mining operator Iris Energy Limited said two of its miners received a notice of default on more than $100 million in debt. In a document filed with the Securities and Exchange Commission, the ...
Bitcoin Mining Firm Iris Energy Might Fail To Pay Off Its Loans
Several unfortunate cases are springing up in the Bitcoin and crypto ecosystem. The main reason for these adverse events comes down to the current bearish trend of the cryptocurrency market. Regardles...
Iris Energy’s SEC Filing Shows Debt Held in Special Purpose Vehicles – crypto.news
Iris Energy, a bitcoin miner, has remained resolute despite having to default on $103 million in loans the following week. According to a recent SEC filing, the Australian company may earn a monthly g...
Bitcoin Miner Iris Energy Says Bad Debt Contained in ‘Rotten Arms’
Bitcoin miner Iris Energy remains defiant despite facing debt default on $103 million in loans next week. In a recent SEC filing, the Australia-based firm said that while it can generate $2 million in...
Bitcoin Miner Iris Energy On Verge of $103 Million Loan Default
Yet another major North American Bitcoin miner is looking ill-prepared to pay off its debts before the end of the year. This time it’s Iris Energy – a sustainability-focused miner that recently revea...
Bitcoin Miner Iris Energy Says Some Machines Aren’t Covering Financing Costs
The company has three special-purpose vehicles specifically for financing the purchase of mining equipment. Together the three have $104 million of debt outstanding. That’s secured against 3.8 e...
Bitcoin mining firm Iris Energy on verge of $103M loan default
A tweet from Bitcoin Magazine Analyst Dylan LeClair stated BTC mining firm Iris Energy is close to defaulting on a $103 million loan held by the New York Digital Investment Group (NYDIG). He continued...
Bitcoin miner Iris Energy considering mergers and acquisitions after fresh capital raise
Bitcoin miner Iris Energy considering possible mergers and acquisitions opportunities as the firm plots its growth plans. Those also include other options such as “ongoing organic expansion,R...
Bitcoin Miner Iris Energy Inks $100M Deal as it Contemplates M&A
Bitcoin mining company Iris Energy has agreed on a deal to sell up to $100 million in shares to investment bank B. Riley, as the company contemplates mergers and acquisitions following a recent capita...