Iris Energy Limited (“Iris” or the “Company”) is a Bitcoin mining company based in Sydney, Australia. The Company builds, owns and operates data center and electrical infrastructure for the mining of Bitcoin primarily powered by renewable energy. The Company targets entry into regions where there are low-cost, abundant, and attractive renewable energy sources. The Company’s mining operations generate revenue by earning Bitcoin through a combination of block rewards and transaction fees from the operation of its specialized computers called Application-Specific Integrated Circuits and exchanging these Bitcoin for currencies such as USD or CAD on a daily basis.