Key highlights
$IREN CEO: Financing the $9.7B Microsoft contract
"Firstly, we secured underwriting commitments for $3.6 billion of GPU financing at an interest rate of less than 6%. Together with customer prepayments, this provides funding coverage for approximately 95% of the GPU-related CapEx, supporting our $9.7 billion AI contract with Microsoft."
CEO · Daniel Roberts
$IREN CFO: The friction of the Bitcoin-to-AI transition
"Total revenue was $184.7 million, down 23% on the prior quarter, primarily on account of lower Bitcoin mining revenue, driven by a reduction in Bitcoin mined."
CFO · Anthony Lewis