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Iris Energy Priced, Nasdaq: IREN

Bitcoin miner primarily powered by renewable energy.

Industry: Technology

Latest Trade: $5.74 0.00 (0.0%)

First Day Return: -12.7%

Return from IPO: -79.5%

Industry: Technology

We are a Bitcoin mining company. We build, own and operate data center and electrical infrastructure for the mining of Bitcoin primarily powered by renewable energy. We target entry into regions where there are low-cost, abundant and attractive renewable energy sources. In January 2020, we acquired our first site in British Columbia, Canada (“BC”), from PodTech Innovation Inc. and certain of its related parties. This site is connected to the British Columbia Hydro and Power Authority (“BC Hydro”) electricity transmission network (69 kV grid-connection) on which the electricity, as of 2021, was 98% sourced from clean or renewable sources. The data center site, which has been operating since 2019, has approximately 30 MW of capacity and operating hashrate capacity of approximately 0.7 EH/s, as of October 1, 2021. In addition to our first site in BC, as of September 30, 2021, we have conditional and unconditional rights to a number of sites across BC, Texas (USA) and Asia-Pacific, over which we are currently pursuing development activities. These sites are anticipated to support our operating and contracted nameplate hashrate capacity of 15.2 EH/s, equating to approximately 530 MW of data center capacity when online and fully operational.
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IPO News for Iris Energy
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IPO Data
IPO File Date 10/25/2021
Offer Price $28.00
Price Range $25.00 - $27.00
Offer Shares (mm) 8.3
Deal Size ($mm) $232
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 11/16/2021
Offer Price $28.00
Price Range $25.00 - $27.00
Offer Shares (mm) 8.3
Deal Size ($mm) $232
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
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Company Data
Headquarters Sydney, Australia
Founded 2018
Employees 39
Website www.irisenergy.co