IPO - Profile

Iris Energy Limited

Finance > Finance/Investors Services

IREN

Summary

Offer Price Offer Size 3-Year Outlook Volatility First Day Turnover
$28.00 8,300,000 Positive High 70.06%

Offering Team

  • Legal counsel
  • Clifford Chance US LLP
  • Auditors
  • Armanino LLP

Deal Highlights

We are a Bitcoin mining company. We build, own and operate data center and electrical infrastructure for the mining of Bitcoin that are 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, from PodTech Innovation Inc. and certain of its related parties. This site is connected to the 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.

Deal Tracker

IPO Dates

Filing 16 Nov, 2021

Offer 17 Nov, 2021

Look Ahead

Lock Up Expiry May 17, 2022

IPO Terms

Offer Price $28.00
Offer Size 8M

Market Sentiments

Stock Price