Iris Vitality Restricted Declares Closing of US$71 Million


  • US$71 million restricted recourse gear financing facility closed with NYDIG
  • Third facility secured with NYDIG, additional cementing long-term partnership
  • Secured by 19,800 Bitmain S19j Professional miners (1.98 EH/s)
  • ~10 EH/s of the Firm’s whole inventory of miners stay unencumbered
  • Substantial steadiness sheet flexibility retained to safe further non-dilutive funding

SYDNEY, Australia, March 28, 2022 (GLOBE NEWSWIRE) — Iris Vitality Restricted (NASDAQ: IREN) (“Iris Vitality” or “the Firm”), a number one sustainable Bitcoin miner constructing institutional-grade knowledge facilities, in the present day introduced the closing of a further US$71 million gear financing facility (“the Facility”) between an entirely owned subsidiary of Iris Vitality and a NYDIG subsidiary, NYDIG ABL LLC. NYDIG’s Mining Providers enterprise focuses on offering main bitcoin miners with options to their asset-backed financing, institutional high quality infrastructure, and hedging answer wants.

Iris Vitality is among the largest listed Bitcoin miners with 15 EH/s of working and contracted miners (10 EH/s anticipated to be operational by early 2023). The Firm has used 100% renewable power since inception1 and is led by a administration workforce who has delivered >US$25 billion in power and infrastructure tasks globally.

Key phrases of the Facility:

  • US$71 million restricted recourse gear financing facility
  • Secured by 19,800 Bitmain S19j Professional miners (1.98 EH/s)
  • 25 month time period, 11% p.a. rate of interest

~10 EH/s of the Firm’s whole inventory of contracted miners stay unencumbered, offering substantial steadiness sheet flexibility to safe further non-dilutive funding sooner or later.

Having beforehand raised >US$500 million (the overwhelming majority by way of fairness), the Firm is now trying to benefit from a powerful steadiness sheet and proceed optimizing capital construction by way of further value-accretive funding alternatives such because the Facility.

Daniel Roberts, Co-Founder and Co-CEO of Iris Vitality mentioned:

“We’re delighted to once more companion with an trade chief resembling NYDIG who’ve been a long-standing supporter of our enterprise. That is our third gear financing facility collectively and we look ahead to formalizing further mortgage amenities as miners proceed to be delivered and put in. This transaction additional demonstrates the capital construction advantages in having a powerful steadiness sheet and proudly owning and controlling our personal infrastructure.”

“With substantial fairness raised thus far, significant operational cashflow and a 15 EH/s set up schedule which stays on monitor, we’re pursuing various different sources of non-dilutive funding to proceed the Firm’s speedy development trajectory and supply of shareholder worth, noting that we as administration proceed to carry roughly one quarter of the shares on concern.”

Trevor Smyth, Head of Structured Financing at NYDIG mentioned:

“We’re delighted to shut our third gear financing facility with Iris Vitality, who’re clearly proving to be a pacesetter within the sector in the case of execution, undertaking supply and high quality of operations. We look ahead to working with them on some or all the remaining ~10 EH/s of miners which we now have not but financed, in addition to supporting the enterprise extra broadly as they proceed to develop past their preliminary 15 EH/s of capability.”

About Iris Vitality

Iris Vitality is a sustainable Bitcoin mining firm that helps native communities, in addition to the decarbonization of power markets and the worldwide Bitcoin community.

  • Give attention to low-cost renewables: Iris Vitality targets markets with low-cost, extra and/or under-utilized renewable power, and the place the Firm can help native communities
  • Lengthy-term safety over infrastructure, land and energy provide: Iris Vitality builds, owns and operates its electrical infrastructure and specialised knowledge facilities, offering long-term safety and operational management over its belongings
  • Seasoned administration workforce: Iris Vitality’s workforce has a powerful monitor document of success throughout power, infrastructure, renewables, finance, digital belongings and knowledge facilities


NYDIG is a bitcoin firm powering a extra inclusive financial system. Delivering know-how and monetary companies to companies in a broad vary of industries, its full-stack bitcoin platform is constructed to the best safety, regulatory, and operational requirements. NYDIG is the gateway to a brand new period of economic merchandise that make bitcoin extra accessible for all. Study extra at, or join on LinkedIn and Twitter.

Ahead Trying Statements

This investor replace consists of “forward-looking statements” inside the which means of the Non-public Securities Litigation Reform Act of 1995. Ahead-looking statements typically relate to future occasions or Iris Vitality’s future monetary or working efficiency. For instance, forward-looking statements embody however will not be restricted to the anticipated improve within the Firm’s energy capability and the Firm’s marketing strategy. In some circumstances, you possibly can determine forward-looking statements by terminology resembling “anticipate,” “consider,” “could,” “can,” “ought to,” “may,” “may,” “plan,” “potential,” “undertaking,” “attempt,” “price range,” “forecast,” “count on,” “intend,” “will,” “estimate,” “predict,” “potential,” “proceed,” “scheduled” or the negatives of those phrases or variations of them or comparable terminology, however the absence of those phrases doesn’t imply that assertion shouldn’t be forward-looking. Such forward-looking statements are topic to dangers, uncertainties, and different elements which may trigger precise outcomes to vary materially from these expressed or implied by such ahead trying statements. As well as, any statements or info that check with expectations, beliefs, plans, projections, targets, efficiency or different characterizations of future occasions or circumstances, together with any underlying assumptions, are forward-looking.

These forward-looking statements are primarily based on administration’s present expectations and beliefs. These statements are neither guarantees nor ensures, however contain recognized and unknown dangers, uncertainties and different vital elements that will trigger Iris Vitality’s precise outcomes, efficiency or achievements to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by the forward-looking statements, together with, however not restricted to: Iris Vitality’s restricted working historical past with working losses; electrical energy outage, limitation of electrical energy provide or improve in electrical energy prices; long run outage or limitation of the web connection at Iris Vitality’s websites; Iris Vitality’s evolving enterprise mannequin and technique; Iris Vitality’s means to efficiently handle its development; Iris Vitality’s means to boost further capital; competitors; Bitcoin costs; dangers associated to well being pandemics together with these of COVID-19; adjustments in regulation of digital belongings; and different vital elements mentioned underneath the caption “Threat Components” in Iris Vitality’s last prospectus filed pursuant to Rule 424(b)(4) with the SEC on November 18, 2021, as such elements could also be up to date every so often in its different filings with the SEC, accessible on the SEC’s web site at and the Traders Relations part of Iris Vitality’s web site at

These and different vital elements may trigger precise outcomes to vary materially from these indicated by the forward-looking statements made on this investor replace. Any forward-looking assertion that Iris Vitality makes on this investor replace speaks solely as of the date of such assertion. Besides as required by regulation, Iris Vitality disclaims any obligation to replace or revise, or to publicly announce any replace or revision to, any of the forward-looking statements, whether or not on account of new info, future occasions or in any other case.


Jon Snowball
+61 477 946 068

Bom Shin
Iris Vitality
+61 411 376 332
[email protected]

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1 At the moment 98% instantly from renewable power sources; 2% from buy of RECs. 

Iris Vitality Restricted Declares Closing of US$71 Million