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Iris Energy
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CryptoCurrency
Wall Street Bitcoin Miner's AI Pivot Sparks Investor Lawsuit
2024-10-10T11:07:55.134+02:00
Iris Energy faces a class action lawsuit for allegedly misrepresenting its data center capabilities for high-performance computing.
The lawsuit claims the company overstated its prospects and facilities' suitability for AI applications.
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CryptoCurrency
Wall Street Bitcoin Miner Loses $29 Million, Six Times Less Than Last Year
2024-08-31T16:22:04.767+02:00
IREN reported a significant growth in FY24, with record Bitcoin mining revenue and improved profitability.
The company is on track to expand its operations in both Bitcoin mining and AI cloud services.
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CryptoCurrency
Iris Energy Switches Off Its Mining Hardware, Feels the Crypto Winter
2022-11-23T13:32:30.340+02:00
The unplugged rigs were producing insufficient cash flow.
Operations generated a $2 million monthly profit, only 29% of the debt obligation.
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