Iris Energy Limited (NASDAQ:IREN) Q4 2024 Earnings Conference Call August 28, 2024 5:00 PM ET

Company Participants

Lincoln Tan - Director of Investor Relations
Daniel Roberts - Co-Founder and Co-Chief Executive Officer
Belinda Nucifora - Chief Financial Officer

Conference Call Participants

Joseph Vafi - Canaccord Genuity
Nick Giles - B. Riley Securities
Paul Golding - Macquarie Capital
Mike Colonnese - H.C. Wainwright
Joe Flynn - Compass Point Research
Brett Knoblauch - Cantor Fitzgerald

Operator

Good day and welcome to IREN's Fiscal Year 2024 Results Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker Mr. Lincoln Tan, Director of Investor Relations. Please go ahead.

Lincoln Tan

Good afternoon to all of our North American participants and good morning to those joining us from Australia. Welcome to IREN's FY'24 Results Conference Call. I'm Lincoln Tan, Director of Investor Relations and I'm joined today by Daniel Roberts, Co-Founder and Co-CEO; and Belinda Nucifora, CFO.

Please note that certain statements that we make during this call may constitute forward-looking statements. These statements are based on certain assumptions and risk factors that could cause actual results to differ materially from our expectations. Listeners should not place undue reliance on forward-looking information or statements.

For further details, please refer to the disclaimer on Slide 2 of the accompanying presentation. Thank you for joining us.

I'll now hand the call over to Dan Roberts.

Daniel Roberts

Thank you, Lincoln. Welcome everyone and good afternoon. So moving through the presentation, obviously, this is our full-year results. We have a year end of 30 June, so very pleased to report on what's been an exciting 12 months for IREN and its shareholders and, obviously, an exciting outlook over the coming months and years.

So jumping straight into it, disclaimer, please all read it, very important. And then into a quick overview of where we are as a business right here, right now. So we're pleased to announce that we have increased our installed capacity Bitcoin mining to 15 exahash.

So the last reported update was 10.5. And we reiterate our original unchanged guidance that we will hit 20 exahash by the end of next month and 30 exahash by the end of this year. So in about three and a half months' time, three months' time, time's flying. So that's exciting. We're on track and the team's doing an absolutely tremendous job.