<SEC-DOCUMENT>0001140361-22-002298.txt : 20220121
<SEC-HEADER>0001140361-22-002298.hdr.sgml : 20220121
<ACCEPTANCE-DATETIME>20220121070916
ACCESSION NUMBER:		0001140361-22-002298
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20220121
FILED AS OF DATE:		20220121
DATE AS OF CHANGE:		20220121

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Iris Energy Ltd
		CENTRAL INDEX KEY:			0001878848
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			C3
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41072
		FILM NUMBER:		22544113

	BUSINESS ADDRESS:	
		STREET 1:		LEVEL 21, 60 MARGARET STREET
		CITY:			SYDNEY
		STATE:			C3
		ZIP:			NSW 2000
		BUSINESS PHONE:		212-906-1200

	MAIL ADDRESS:	
		STREET 1:		LEVEL 21, 60 MARGARET STREET
		CITY:			SYDNEY
		STATE:			C3
		ZIP:			NSW 2000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Iris Energy Pty Ltd
		DATE OF NAME CHANGE:	20210817
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>brhc10033000_6k.htm
<DESCRIPTION>6-K
<TEXT>
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  <div>
    <div style="text-align: center; font-size: 14pt; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">Washington, D.C. 20549</div>
    <div>&#160;</div>
    <div style="text-align: center; font-size: 18pt; font-weight: bold;">FORM 6-K</div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;">REPORT OF FOREIGN PRIVATE ISSUER</div>
    <div style="text-align: center; font-weight: bold;">PURSUANT TO SECTION 13A-16 OR 15D-16</div>
    <div style="text-align: center; font-weight: bold;">UNDER THE SECURITIES EXCHANGE ACT OF 1934</div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;">For the month of January 2022</div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;">Commission File Number: 001-41072</div>
    <div>&#160;</div>
    <div style="text-align: center; font-size: 24pt; font-weight: bold;">Iris Energy Limited</div>
    <div style="text-align: center; font-weight: bold;">(Translation of registrant&#8217;s name into English)</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">Level 21, 60 Margaret Street</div>
    <div style="text-align: center; font-weight: bold;">Sydney, NSW 2000 Australia</div>
    <div style="text-align: center; font-weight: bold;">+61 2 7906 8301</div>
    <div style="text-align: center; font-weight: bold;">(Address of principal executive office)</div>
    <div>&#160;</div>
    <div>Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</div>
    <div>&#160;</div>
    <div style="text-align: center;">Form 20-F &#9746; Form 40-F &#9744;</div>
    <div>&#160;</div>
    <div>Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): &#9744;</div>
    <div>&#160;</div>
    <div>Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): &#9744;</div>
    <div> <br>
    </div>
    <div>
      <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"></div>
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    </div>
    <div style="text-align: center; font-weight: bold;">&#160;EXPLANATORY NOTE</div>
    <div>&#160;</div>
    <div style="text-align: justify;">On January 21, 2022, Iris Energy Limited (the &#8220;Company&#8221;) released a press release announcing the execution of a transformational 600MW connection agreement with AEP Texas.&#160; A copy of the press release is furnished
      hereto as Exhibit 99.1.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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    <div style="text-align: center; font-weight: bold;">EXHIBIT INDEX</div>
    <table cellspacing="0" cellpadding="0" id="zcf8750882ca445a88a90a967553cb763" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 5%; vertical-align: middle; text-align: center; font-weight: bold; border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">Exhibit<br>
            No.</td>
          <td style="width: 2%; vertical-align: middle; padding-bottom: 2px;" rowspan="1" colspan="1">&#160;</td>
          <td style="width: 97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;" rowspan="1">
            <div style="color: rgb(0, 0, 0); font-weight: bold;">Description</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 5%; vertical-align: middle;" rowspan="1">&#160;</td>
          <td style="width: 2%; vertical-align: middle;" colspan="1" rowspan="1">&#160;</td>
          <td style="width: 97%; vertical-align: middle;" rowspan="1">&#160;</td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 5%; vertical-align: middle;">
            <div style="color: rgb(0, 0, 0);"><a href="brhc10033000_ex99-1.htm">99.1</a></div>
          </td>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 97%; vertical-align: middle;">
            <div>Iris Energy Press Release, &#8220;Iris Energy Executes Transformational 600MW Connection Agreement with AEP Texas&#8221;, dated January 21, 2022</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
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    </div>
    <div style="text-align: center; font-weight: bold;">SIGNATURES</div>
    <div>&#160;</div>
    <div>Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</div>
    <div>&#160;</div>
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        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="vertical-align: top;" colspan="2">
            <div style="color: rgb(0, 0, 0); font-weight: bold;">Iris Energy Limited</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: middle;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 47%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; padding-bottom: 2px;" rowspan="1">
            <div style="color: rgb(0, 0, 0);">Date: January 21, 2022</div>
          </td>
          <td style="width: 3%; vertical-align: top; padding-bottom: 2px;" rowspan="1">By:</td>
          <td style="width: 47%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">
            <div style="color: rgb(0, 0, 0);">/s/ Daniel Roberts</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 47%; vertical-align: bottom;">
            <div style="color: rgb(0, 0, 0);">Daniel Roberts</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 47%; vertical-align: bottom;">
            <div style="color: rgb(0, 0, 0);">Co-Chief Executive Officer and Director</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div>
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>brhc10033000_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <div>
      <div style="text-align: right;"><font style="color: rgb(0, 0, 0); font-weight: bold;">Exhibit 99.1</font><font style="color: rgb(0, 0, 0);"><br>
        </font></div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="text-align: center; color: rgb(31, 61, 131); font-family: 'Times New Roman', Times, serif;"><font style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">IRIS ENERGY EXECUTES TRANSFORMATIONAL 600MW CONNECTION
          AGREEMENT WITH AEP TEXAS, </font></div>
      <div style="text-align: center; color: rgb(31, 61, 131); font-family: 'Times New Roman', Times, serif;"><font style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">INCREASING POWER CAPACITY TO 765MW (</font><font style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">~<font style="font-weight: bold;">22 EH/S</font><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup><font style="font-weight: bold;">).</font></font></div>
      <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">US$19M SECURITY DEPOSIT AND CONNECTION FEE PAID, PROCUREMENT AND CONSTRUCTION ACTIVITIES UNDERWAY.</div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="color: rgb(0, 0, 0); font-weight: bold;">Highlights</div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="width: 100%; text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;" id="z9c09e78b1d3b45a39a0b5ce28c5119b9" class="DSPFListTable">

          <tr>
            <td style="width: 18pt; color: rgb(0, 0, 0);"><br>
            </td>
            <td style="width: 18pt; color: rgb(0, 0, 0); vertical-align: top;"><font style="font-family: Times New Roman; font-size: 8pt;">&#9679;</font></td>
            <td style="width: auto; color: rgb(0, 0, 0); vertical-align: top;">
              <div>600MW binding connection agreement executed with AEP Texas and $19m security deposit and connection fee paid</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="width: 100%; text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;" id="z537045e235704ed480da086e04e8757e" class="DSPFListTable">

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            <td style="width: 18pt; color: rgb(0, 0, 0);"><br>
            </td>
            <td style="width: 18pt; color: rgb(0, 0, 0); vertical-align: top;"><font style="font-family: Times New Roman; font-size: 8pt;">&#9679;</font></td>
            <td style="width: auto; color: rgb(0, 0, 0); vertical-align: top;">
              <div>Power capacity expected to increase from 165MW (4.6 EH/s) to 765MW (~22 EH/s<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>)</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="width: 100%; text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;" id="z53743f23c18747f5b6907be4ffe910e1" class="DSPFListTable">

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            <td style="width: 54pt; color: rgb(0, 0, 0);"><br>
            </td>
            <td style="width: 18pt; color: rgb(0, 0, 0); vertical-align: top;">o</td>
            <td style="width: auto; color: rgb(0, 0, 0); vertical-align: top;">
              <div>15.2 EH/s (~530MW) of miners previously secured; and</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="width: 100%; text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;" id="z6f03c355ec0e49128b12b9860fd25f6a" class="DSPFListTable">

          <tr>
            <td style="width: 54pt; color: rgb(0, 0, 0);"><br>
            </td>
            <td style="width: 18pt; color: rgb(0, 0, 0); vertical-align: top;">o</td>
            <td style="width: auto; color: rgb(0, 0, 0); vertical-align: top;">
              <div>~7 EH/s<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> (~235MW) of potential additional capacity</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="width: 100%; text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;" id="zc03a0139989f421b960ee719b2a7f345" class="DSPFListTable">

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            <td style="width: 18pt; color: rgb(0, 0, 0);"><br>
            </td>
            <td style="width: 18pt; color: rgb(0, 0, 0); vertical-align: top;"><font style="font-family: Times New Roman; font-size: 8pt;">&#9679;</font></td>
            <td style="width: auto; color: rgb(0, 0, 0); vertical-align: top;">
              <div>~22 EH/s<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#160;</sup>would represent &gt;10%<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup> of the total global network hashrate if operating today</div>
            </td>
          </tr>

      </table>
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          <tr>
            <td style="width: 18pt; color: rgb(0, 0, 0);"><br>
            </td>
            <td style="width: 18pt; color: rgb(0, 0, 0); vertical-align: top;"><font style="font-family: Times New Roman; font-size: 8pt;">&#9679;</font></td>
            <td style="width: auto; color: rgb(0, 0, 0); vertical-align: top;">
              <div>&gt;300 acre freehold site (100% owned), with direct grid access located in the renewables heavy Panhandle region of Texas, USA</div>
            </td>
          </tr>

      </table>
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          <tr>
            <td style="width: 18pt; color: rgb(0, 0, 0);"><br>
            </td>
            <td style="width: 18pt; color: rgb(0, 0, 0); vertical-align: top;"><font style="font-family: Times New Roman; font-size: 8pt;">&#9679;</font></td>
            <td style="width: auto; color: rgb(0, 0, 0); vertical-align: top;">
              <div>Electrical connection expected to be completed during Q1 2023</div>
            </td>
          </tr>

      </table>
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          <tr>
            <td style="width: 18pt; color: rgb(0, 0, 0);"><br>
            </td>
            <td style="width: 18pt; color: rgb(0, 0, 0); vertical-align: top;"><font style="font-family: Times New Roman; font-size: 8pt;">&#9679;</font></td>
            <td style="width: auto; color: rgb(0, 0, 0); vertical-align: top;">
              <div>15.2 EH/s execution plan now clear</div>
            </td>
          </tr>

      </table>
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            <td style="width: 54pt; color: rgb(0, 0, 0);"><br>
            </td>
            <td style="width: 18pt; color: rgb(0, 0, 0); vertical-align: top;">o</td>
            <td style="width: auto; color: rgb(0, 0, 0); vertical-align: top;">
              <div>4.6 EH/s (165MW) - operating and under construction (BC, Canada)</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="width: 100%; text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;" id="zf8150b8cd8fd434baa60b59ecef78c15" class="DSPFListTable">

          <tr>
            <td style="width: 54pt; color: rgb(0, 0, 0);"><br>
            </td>
            <td style="width: 18pt; color: rgb(0, 0, 0); vertical-align: top;">o</td>
            <td style="width: auto; color: rgb(0, 0, 0); vertical-align: top;">
              <div>10.6 EH/s (365MW) - procurement and construction activities underway (Texas)</div>
            </td>
          </tr>

      </table>
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          <tr>
            <td style="width: 90pt; color: rgb(0, 0, 0);"><br>
            </td>
            <td style="width: 18pt; color: rgb(0, 0, 0); vertical-align: top;">&#9726;</td>
            <td style="width: auto; color: rgb(0, 0, 0); vertical-align: top;">
              <div>3.0 EH/s (100MW) targeted for 2022<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup></div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="width: 100%; text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;" id="zcea0ad0adb284932a97e3502d31ef5b8" class="DSPFListTable">

          <tr>
            <td style="width: 90pt; color: rgb(0, 0, 0);"><br>
            </td>
            <td style="width: 18pt; color: rgb(0, 0, 0); vertical-align: top;">&#9726;</td>
            <td style="width: auto; color: rgb(0, 0, 0); vertical-align: top;">
              <div>7.6 EH/s (265MW) targeted for 2023</div>
            </td>
          </tr>

      </table>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="color: rgb(31, 61, 131); font-family: 'Times New Roman', Times, serif;"><font style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Sydney, Australia (January 21, 2022) </font><font style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">&#8211; Iris Energy Limited (NASDAQ: <u>IREN</u>) (&#8220;Iris Energy&#8221; or &#8220;the Company&#8221;), a leading sustainable Bitcoin miner with 15.2 EH/s of secured miners, today announced its wholly owned subsidiary has executed a
          binding connection agreement with AEP Texas Inc. (&#8220;AEP Texas&#8221;, a subsidiary of AEP) for a new 600MW specialized data center site in the renewables heavy Panhandle region of Texas, USA.</font></div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="color: rgb(0, 0, 0);">The agreement with AEP Texas is to connect into a 345kV transmission line running directly through the &gt;300 acre freehold site (100% owned). Key utilities are located in close proximity to the site boundary,
        including high speed fiber.</div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="color: rgb(0, 0, 0);">The new 600MW site is transformational and expected to increase the Company&#8217;s power capacity from 165MW (4.6 EH/s) to 765MW (~22 EH/s<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>),


        supporting:</div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="width: 100%; text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;" id="zbc4bcfa4a4ee4bcd8628c1e879059654" class="DSPFListTable">

          <tr>
            <td style="width: 18pt; color: rgb(0, 0, 0);"><br>
            </td>
            <td style="width: 18pt; color: rgb(0, 0, 0); vertical-align: top;"><font style="font-family: Times New Roman; font-size: 8pt;">&#9679;</font></td>
            <td style="width: auto; color: rgb(0, 0, 0); vertical-align: top;">
              <div>15.2 EH/s (~530MW) of miners previously secured; and</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="width: 100%; text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;" id="zd119a38841354a12bc28d67ef0693c1e" class="DSPFListTable">

          <tr>
            <td style="width: 18pt; color: rgb(0, 0, 0);"><br>
            </td>
            <td style="width: 18pt; color: rgb(0, 0, 0); vertical-align: top;"><font style="font-family: Times New Roman; font-size: 8pt;">&#9679;</font></td>
            <td style="width: auto; color: rgb(0, 0, 0); vertical-align: top;">
              <div>~7 EH/s<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> (~235MW) of potential additional capacity.</div>
            </td>
          </tr>

      </table>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="color: rgb(0, 0, 0);">22 EH/s<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#160;</sup>would represent &gt;10%<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup> of the total global network hashrate if operating today.</div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="color: rgb(0, 0, 0);">The Company now has a clear execution plan for its 15.2 EH/s of secured miners at 100% owned and operated data center facilities.</div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="color: rgb(0, 0, 0);">Importantly, the Company&#8217;s entry into the renewables heavy Panhandle region of Texas is consistent with its stated strategy of targeting markets with abundant and/or under-utilized renewable energy and provides
        potential opportunities to support the local energy market through the provision of flexible load, demand response and other ancillary services.</div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="color: rgb(0, 0, 0);">
        <hr noshade="noshade" align="left" style="border: currentColor; border-image: none; width: 30%; height: 2px; color: rgb(0, 0, 0); margin-right: auto; margin-left: 0px; background-color: rgb(0, 0, 0);"></div>
      <div style="color: rgb(0, 0, 0);"><sup style="font-family: Calibri, sans-serif; vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;Equivalent hashrate potential for the power capacity assuming installation of Bitmain S19j Pro
        miners.</div>
      <div style="color: rgb(0, 0, 0);"><sup style="font-family: Calibri, sans-serif; vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup>&#160;Based on current global hashrate (implied by network difficulty) of ~174 EH/s.</div>
      <div style="color: rgb(0, 0, 0);"><sup style="font-family: Calibri, sans-serif; vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup>&#160;Data center buildings targeted for completion by end of 2022; energization of data centers targeted
        for Q1 2023.</div>
      <div style="color: rgb(0, 0, 0);"><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="page-break-after: always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="border-width: 0px; margin: 4px 0px; width: 100%; height: 2px; color: rgb(0, 0, 0); clear: both; background-color: rgb(0, 0, 0);"></div>
      </div>
      <table cellspacing="0" cellpadding="0" style="width: 100%; text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; border-collapse: collapse;" id="z91f9e803dd1d491fa9b0cb90c4b6e40c">

          <tr>
            <td style="background-color: #D9D9D9; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 33.3%; color: #000000;">
              <div style="font-weight: bold;">Site Overview</div>
            </td>
            <td style="background-color: #D9D9D9; border-bottom: 1px solid #000000; border-left: 1px #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; width: 15.66%;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Capacity</div>
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">(MW)</div>
            </td>
            <td style="background-color: #D9D9D9; border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 15.67%; color: #000000;">
              <div style="text-align: center; font-weight: bold;">Capacity</div>
              <div style="text-align: center; font-weight: bold;">(EH/s)</div>
            </td>
            <td style="background-color: #D9D9D9; border-bottom: 1px solid #000000; border-left: 1px #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 15.67%; color: #000000;">
              <div style="text-align: center; font-weight: bold;">Timing</div>
            </td>
            <td style="background-color: #D9D9D9; border-bottom: 1px solid #000000; border-left: 1px #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 19.71%; color: #000000;">
              <div style="text-align: center; font-weight: bold;">Status</div>
            </td>
          </tr>
          <tr>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 33.3%; color: #000000;">
              <div>&#160;Canal Flats (BC, Canada)</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; width: 15.66%; color: #000000;">
              <div style="text-align: center;">30</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 15.67%; color: #000000;">
              <div style="text-align: center;">0.7</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 15.67%; color: #000000;">
              <div style="text-align: center;">Complete</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 19.71%; color: #000000;">
              <div>Operating</div>
            </td>
          </tr>
          <tr>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 33.3%; color: #000000;">
              <div>&#160;Mackenzie (BC, Canada)</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; width: 15.66%; color: #000000;">
              <div style="text-align: center;">50</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 15.67%; color: #000000;">
              <div style="text-align: center;">1.5</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 15.67%; color: #000000;">
              <div style="text-align: center;">Q2-Q3 2022</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 19.71%; color: #000000;">
              <div>Under construction</div>
            </td>
          </tr>
          <tr>
            <td rowspan="2" style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 33.3%; color: #000000;">
              <div>&#160;Prince George (BC, Canada)</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; width: 15.66%; color: #000000;">
              <div style="text-align: center;">50</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 15.67%; color: #000000;">
              <div style="text-align: center;">1.4</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 15.67%; color: #000000;">
              <div style="text-align: center;">Q3 2022</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 19.71%; color: #000000;">
              <div>Under construction</div>
            </td>
          </tr>
          <tr>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; width: 15.66%; color: #000000;">
              <div style="text-align: center;">35</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 15.67%; color: #000000;">
              <div style="text-align: center;">1.0</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 15.67%; color: #000000;">
              <div style="text-align: center;">2023</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 19.71%; color: #000000;">
              <div>Under construction</div>
            </td>
          </tr>
          <tr>
            <td rowspan="2" style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 33.3%; color: #000000;">
              <div>&#160;Panhandle (Texas, USA)</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; width: 15.66%; color: #000000;">
              <div style="text-align: center;">100</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 15.67%; color: #000000;">
              <div style="text-align: center;">3.0</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 15.67%; color: #000000;">
              <div style="text-align: center;">Q4 2022<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup></div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 19.71%; color: #000000;">
              <div>Under construction</div>
            </td>
          </tr>
          <tr>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; width: 15.66%; color: #000000;">
              <div style="text-align: center;">265</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 15.67%; color: #000000;">
              <div style="text-align: center;">7.6</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 15.67%; color: #000000;">
              <div style="text-align: center;">2023</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 19.71%; color: #000000;">
              <div>Under construction</div>
            </td>
          </tr>
          <tr>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 33.3%; color: #000000;">
              <div style="font-weight: bold;">Total (miners secured)</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; width: 15.66%; color: #000000;">
              <div style="text-align: center; font-weight: bold;">530</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 15.67%; color: #000000;">
              <div style="text-align: center; font-weight: bold;">15.2</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 15.67%; color: #000000;">&#160;</td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 19.71%; color: #000000;">&#160;</td>
          </tr>
          <tr>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 33.3%; color: #000000;">
              <div>&#160;Panhandle (Texas, USA)</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; width: 15.66%; color: #000000;">
              <div style="text-align: center;">235</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 15.67%; color: #000000;">
              <div style="text-align: center;">~7<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 15.67%; color: #000000;">&#160;</td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 19.71%; color: #000000;">
              <div>Potential capacity</div>
            </td>
          </tr>
          <tr>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 33.3%; color: #000000;">
              <div style="font-weight: bold;">Total (potential expansion)</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; width: 15.66%; color: #000000;">
              <div style="text-align: center; font-weight: bold;">765</div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 15.67%; color: #000000;">
              <div style="text-align: center; font-weight: bold;">~22<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
            </td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 15.67%; color: #000000;">&#160;</td>
            <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; border-top: 1px solid #000000; vertical-align: middle; white-space: nowrap; width: 19.71%; color: #000000;">&#160;</td>
          </tr>

      </table>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="color: rgb(0, 0, 0);">Iris Energy is currently working with global partners on the design, procurement and construction of the Texas facility, with the electrical connection expected to be completed during Q1 2023. Additional miners may
        be procured in due course to utilize the potential 235MW of surplus capacity at this site.</div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="color: rgb(0, 0, 0);">The project is expected to employ up to 50 personnel when fully operational and approximately 100 personnel during construction. The local Texas county is expected to benefit from the flow on effects of both
        operations and construction, including Iris Energy&#8217;s policy of purchasing locally where it makes sense to do so.</div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="color: rgb(0, 0, 0);">The Company has a number of additional sites (all targeting abundant and/or under-utilized renewable energy) in Canada, USA and Asia-Pacific under varying stages of site due diligence, design &amp; engineering, and
        electrical connection submissions. Further details will be provided in due course, including as and when any development sites transition to the construction phase.</div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="color: rgb(0, 0, 0); font-weight: bold;">About Iris Energy</div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="color: rgb(0, 0, 0);">Iris Energy is a sustainable Bitcoin mining company that supports local communities, as well as the decarbonization of energy markets and the global Bitcoin network.</div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="width: 100%; text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;" id="zf31fe55f3e824702922089d548e5f586" class="DSPFListTable">

          <tr>
            <td style="width: 18pt; color: rgb(0, 0, 0); vertical-align: top;"><font style="font-family: Times New Roman; font-size: 8pt;">&#9679;</font></td>
            <td style="width: auto; vertical-align: top;">
              <div style="color: rgb(31, 61, 131); font-family: 'Times New Roman', Times, serif;"><font style="color: rgb(0, 0, 0); font-family: 'Times New Roman';"><u>Focus on low-cost renewables</u>: Iris Energy targets entry into regions where there are
                  low-cost, abundant and attractive renewable energy sources, and where the Company can support local communities</font></div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="width: 100%; text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;" id="zc8721ea9285444c7b6c4655cfd1a0449" class="DSPFListTable">

          <tr>
            <td style="width: 18pt; color: rgb(0, 0, 0); vertical-align: top;"><font style="font-family: Times New Roman; font-size: 8pt;">&#9679;</font></td>
            <td style="width: auto; vertical-align: top;">
              <div style="color: rgb(31, 61, 131); font-family: 'Times New Roman', Times, serif;"><font style="color: rgb(0, 0, 0); font-family: 'Times New Roman';"><u>Long-term security over infrastructure, land and power supply</u>: Iris Energy owns its
                  electrical infrastructure and data centers, providing security and operational control over its assets. Iris Energy also focuses on grid-connected power access which helps to ensure it is able to utilize a reliable, long-term supply of
                  power</font></div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="width: 100%; text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;" id="z52dc9f6a6e5948feb35b361832756c95" class="DSPFListTable">

          <tr>
            <td style="width: 18pt; color: rgb(0, 0, 0); vertical-align: top;"><font style="font-family: Times New Roman; font-size: 8pt;">&#9679;</font></td>
            <td style="width: auto; vertical-align: top;">
              <div style="color: rgb(31, 61, 131); font-family: 'Times New Roman', Times, serif;"><font style="color: rgb(0, 0, 0); font-family: 'Times New Roman';"><u>Seasoned management team</u>: Iris Energy&#8217;s team has an impressive track record of
                  success across energy, infrastructure, renewables, finance, digital assets and data centers</font></div>
            </td>
          </tr>

      </table>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="color: rgb(0, 0, 0); font-weight: bold;">Forward Looking Statements</div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="color: rgb(0, 0, 0);">This release includes &#8220;forward-looking statements&#8221; within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Iris Energy&#8217;s future
        financial or operating performance. For example, forward-looking statements include but are not limited to the expected increase in the Company&#8217;s power capacity and the Company&#8217;s business plan. In some cases, you can identify forward-looking
        statements by terminology such as &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;may,&#8221; &#8220;can,&#8221; &#8220;should,&#8221; &#8220;could,&#8221; &#8220;might,&#8221; &#8220;plan,&#8221; &#8220;possible,&#8221; &#8220;project,&#8221; &#8220;strive,&#8221; &#8220;budget,&#8221; &#8220;forecast,&#8221; &#8220;expect,&#8221; &#8220;intend,&#8221; &#8220;will,&#8221; &#8220;estimate,&#8221; &#8220;predict,&#8221; &#8220;potential,&#8221; &#8220;continue,&#8221;
        &#8220;scheduled&#8221; or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that statement is not forward-looking. Such forward-looking statements are subject to risks, uncertainties, and
        other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives,
        performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking.</div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="page-break-after: always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="border-width: 0px; margin: 4px 0px; width: 100%; height: 2px; color: rgb(0, 0, 0); clear: both; background-color: rgb(0, 0, 0);"></div>
      </div>
      <div style="font-family: 'Times New Roman', Times, serif;"><font style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">These forward-looking statements are based on management&#8217;s current expectations and beliefs. These statements are neither
          promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause Iris Energy&#8217;s actual results, performance or achievements to be materially different from any future results, performance or
          achievements expressed or implied by the forward-looking statements, including, but not limited to: Iris Energy&#8217;s limited operating history with operating losses&#894; electricity outage, limitation of electricity supply or increase in electricity
          costs&#894; long term outage or limitation of the internet connection at Iris Energy&#8217;s sites&#894; Iris Energy&#8217;s evolving business model and strategy&#894; Iris Energy&#8217;s ability to successfully manage its growth&#894; Iris Energy&#8217;s ability to raise additional
          capital&#894; competition&#894; bitcoin prices&#894; risks related to health pandemics including those of COVID-19&#894; changes in regulation of digital assets&#894; and other important factors discussed under the caption &#8220;Risk Factors&#8221; in Iris Energy&#8217;s final prospectus
          filed pursuant to Rule 424(b)(4) with the SEC on November 18, 2021, as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC&#8217;s website at <u>www.sec.gov</u>&#160;and the Investors Relations section of
          Iris Energy&#8217;s website at </font><u><font style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">https://investors.irisenergy.co</font></u><font style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">.</font></div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="color: rgb(0, 0, 0);">These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this investor update. Any forward-looking statement that Iris Energy
        makes in this investor update speaks only as of the date of such statement. Except as required by law, Iris Energy disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking
        statements, whether as a result of new information, future events or otherwise.</div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="color: rgb(0, 0, 0); font-weight: bold;">Contacts</div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="color: rgb(0, 0, 0); font-weight: bold;">Media</div>
      <div style="color: rgb(0, 0, 0);">Jon Snowball</div>
      <div style="color: rgb(0, 0, 0);">Domestique</div>
      <div style="color: rgb(0, 0, 0);">+61 477 946 068</div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="color: rgb(0, 0, 0); font-weight: bold;">Investors</div>
      <div style="color: rgb(0, 0, 0);">Bom Shin</div>
      <div style="color: rgb(0, 0, 0);">Iris Energy</div>
      <div style="color: rgb(0, 0, 0);">+61 411 376 332</div>
      <div style="color: rgb(0, 0, 0);"><u>bom.shin@irisenergy.co</u></div>
      <div style="color: rgb(0, 0, 0);"><br>
      </div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
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