IREN Provides Business Update; The 2024 Expansion Fully Funded, $425.3M Cash, No Debt; 30 EH/s And 510MW Of Data Centers In 2024 Fully Funded
Portfolio Pulse from Benzinga Newsdesk
IREN (Iris Energy Limited) provided a business update, announcing that its 2024 expansion is fully funded with $425.3 million in cash and no debt. The company plans to achieve 30 EH/s and 510MW of data centers by 2024. Additionally, IREN is focusing on monetizing its power and land portfolio, including a 1,400MW project in West Texas.
July 01, 2024 | 12:19 pm
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IREN's announcement of a fully funded 2024 expansion with $425.3 million in cash and no debt is a positive indicator for the company's financial health and growth prospects. The focus on monetizing its power and land portfolio, including a 1,400MW project in West Texas, could further enhance revenue streams.
The fully funded expansion and strong cash position with no debt indicate robust financial health, which is likely to positively impact IREN's stock price. The focus on monetizing power and land assets could provide additional revenue streams, further boosting investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100