Iris Energy Limited (IREN)

They are a Bitcoin mining company. They build, own and operate data center and electrical infrastructure for the mining of Bitcoin primarily powered by renewable energy. They target entry into regions where there are low-cost, abundant and attractive renewable energy sources. In January 2020, they acquired their 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 their first site in BC, as of September 30, 2021, they have conditional and unconditional rights to a number of sites across BC, Texas (USA) and Asia-Pacific, over which they are currently pursuing development activities. These sites are anticipated to support their 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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