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Iris: Good Cash Generation And Energy Advantages Becoming Apparent

Sep. 15, 2023 11:45 AM ETIris Energy Limited (IREN)BTC-USD, COIN, MSTR10 Comments


  • Iris Energy reported FY 2023 results, with profitability since the June update being excellent.
  • The company's access to cheap power in Texas and participation in emergency energy response contributes to lower energy costs.
  • The AI/HPC initiative and potential capacity expansion add to the company's value, making it an attractive investment in the Bitcoin space.
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Iris Energy Update:

Iris Energy (NASDAQ:IREN) reported FY 2023 results for the period ending June 30 last night. There was a lot of new information to digest that was available at the time of my last writing,

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This article was written by

CashFlow Hunter profile picture

Cashfow Hunter has over 25 years of experience in the markets, with nearly 20 of them as a hedge fund portfolio manager. His experience investing in debt and equity markets gives him unique insights into markets. He successfully predicted the implosion of Silicon Valley Bank. He has degrees from Wharton and MIT.

He leads the investing group Catalyst Hedge Investing, in which he shares his best long and short ideas. He looks for investment ideas with asymmetric risk/reward and a clear catalyst. Learn More.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of IREN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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Comments (10)

Any thoughts on the effect of the coming halving? Probable less competition? Less cash flow?
@MyPintat5 block reward 1/2ed but bitcoin price has 5-10Xed in the year following
rppearson profile picture
Thoughts on 500 million shelf ?
CashFlow Hunter profile picture
@F605 generic shelf. Just having it in place imo. They've said they want to build out more Ai/HPC capacity. They have an atm facility in place already. I don't think they'd do a debt deal unless they had contracted capacity usage with a good credit. They're VERY focused on keeping a clean balance sheet and a lot of liquidity..
What do you think about the $500 million shelf offering?
tbear21 profile picture
Does IREN have debt? Also, if I’m not mistaken, they do not hold any Bitcoin so they are ‘hedged’ thru boom and bust BTC cycles?
CashFlow Hunter profile picture
@tbear21 no debt. Almost 70mm cash. They sell bitcoin as soon as they mine it.
tbear21 profile picture
@CashFlow Hunter in your opinion, what’s their advantage(s) over other miners?
bazooooka profile picture
@CashFlow Hunter how will they get to 30EH without debt? And what will happen to stock if BTC stays flat from here while difficulty doubles in the Spring
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