Exhibit 99.2
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FY22 and Q4 FY22 Results SEPTEMBER 2022 | NASDAQ: IREN Bitcoin mining. Done Sustainably.
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Disclaimer Forward-Looking Statements This presentation includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Iris Energy’s future financial or operating performance. For example, forward-looking statements include but are not limited to the Company’s business strategy, expected operational and financial results and expected increase in power capacity and hashrate. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “believe,” “may,” “can,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “target,” “will,” “estimate,” “predict,” “potential,” “continue,” “scheduled” 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. These forward-looking statements are based on management’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’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’s limited operating history with operating losses; electricity outage, limitation of electricity supply or increase in electricity costs; long term outage or limitation of the internet connection at Iris Energy’s sites; any critical failure of key electrical or data center equipment; serial defects or underperformance with respect to Iris Energy’s equipment; failure of suppliers to perform under the relevant supply contracts for equipment that has already been procured which may delay Iris Energy’s expansion plans; supply chain and logistics issues for Iris Energy or Iris Energy’s suppliers; cancellation or withdrawal of required operating and other permits and licenses; customary risks in developing greenfield infrastructure projects; Iris Energy’s evolving business model and strategy; Iris Energy’s ability to successfully manage its growth; Iris Energy’s ability to raise additional financing (whether because of the conditions of the markets, Iris Energy’s financial condition or otherwise) on a timely basis, or at all, which could adversely impact the Company’s ability to meet its capital commitments (including payments due under its hardware purchase contracts with Bitmain) and the Company’s growth plans; Iris Energy’s failure to make certain payments due under any one of its hardware purchase contracts with Bitmain on a timely basis could result in liquidated damages, claims for specific performance or other claims against Iris Energy, any of which could result in a loss of all or a portion of any prepayments or deposits made under the relevant contract or other liabilities in respect of the relevant contract, and could also result in Iris Energy not receiving certain discounts under the relevant contract or receiving the relevant hardware at all, any of which could adversely impact its business, operating expansion plans, financial condition, cash flows and results of operations; the terms of any additional financing, which could be less favorable or require Iris Energy to comply with more onerous covenants or restrictions, any of which could restrict its business operations and adversely impact its financial condition, cash flows and results of operations; competition; Bitcoin prices, which could adversely impact its financial condition, cash flows and results of operations, as well as its ability to raise additional financing; risks related to health pandemics including those of COVID-19; changes in regulation of digital assets; and other important factors discussed under the caption “Risk Factors” in Iris Energy’s annual report on Form 20-F filed with the SEC on September 13, 2022, as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC’s website at www.sec.gov and the Investor Relations section of Iris Energy’s website at https://investors.irisenergy.co. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this presentation. The information in this presentation is only effective as of the date given, September 13, 2022, and will not be updated or affirmed unless and until Iris Energy publicly announces updated or affirmed information. Distribution or reference of this deck following September 13, 2022, does not constitute Iris Energy re-affirming information. 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. Non-IFRS Financial Measures This presentation includes non-IFRS financial measures, including Adjusted EBITDA and Adjusted EBITDA Margin. See ‘Financial Summary’ in this presentation for a definition of Adjusted EBITDA and Adjusted EBITDA Margin, along with a reconciliation to net profit/(loss) after income tax expense, the nearest applicable IFRS measure, for the periods presented. We provide Adjusted EBITDA and Adjusted EBITDA Margin in addition to, and not as a substitute for, measures of financial performance prepared in accordance with IFRS. There are a number of limitations related to the use of Adjusted EBTIDA and Adjusted EBITDA Margin. For example, other companies, including companies in our industry, may calculate Adjusted EBITDA and Adjusted EBITDA Margin differently. The Company believes that these measures are important and supplement discussions and analysis of its results of operations and enhances an understanding of its operating performance. All financial information included in this presentation is denominated in USD and references to “$” are to USD unless otherwise stated. All timing references in this presentation are to calendar quarters and calendar years, unless otherwise specified. Industry and Statistical Data This presentation includes industry data, statistical data, estimates and other forecasts that may have been obtained from periodic industry publications, third-party studies and surveys, filings of public companies in our industry, internal company surveys, and our review and analysis of market conditions, surveys and industry feedback. Our expectations regarding market and industry data, including expected growth rates, are subject to change based on our ongoing analysis of prevailing market and industry conditions and, as a result, assumptions based on such expectations may not be reliable indicators of future results. We undertake no obligation to update such figures in the future. These sources include government and industry sources, including third-party websites. Industry publications and surveys generally state that the information contained therein has been obtained from sources believed to be reliable. Although we believe the industry data to be reliable as of the date of this presentation, this information could prove to be inaccurate. Industry data could be wrong because of the method by which sources obtained their data and because information cannot always be verified with complete certainty due to the limits on the availability and reliability of raw data, the voluntary nature of the data gathering process, and other limitations and uncertainties. In addition, we do not know all of the assumptions regarding general economic conditions or growth that were used in preparing the forecasts from the sources relied upon or cited herein. Further, certain financial measures and statistical information in this document have been subject to rounding adjustments. Accordingly, the sum of certain data may not conform to the expressed total. 2
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3 Executional excellence Who is Iris Energy? 3 A leading owner and operator of highly efficient proprietary Bitcoin mining data centers 6.0 EH/s of expected capacity, powered by 100% renewable energy We believe: Bitcoin is here to stay Bitcoin mining can support the energy transition Bitcoin mining can be done better
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4 Executional excellence We have been doing it the right way 75% higher realized price1 Non-HODL strategy Proven execution Delivered all projects on schedule Highest efficiency 16% more Bitcoin mined per EH/s than peers2 Strong balance sheet $110m cash3, no corporate debt3 and 6.0 EH/s of miners4 Low operating costs $7.9k electricity cost per Bitcoin mined5 Iris Energy FY22 (July 1, 2021 – June 30, 2022) average realized Bitcoin price of $42,216 compared to average June 2022 Bitcoin price of $24,182 (calculated using Nasdaq data feed). Calculated as the average of monthly Bitcoin mined per EH/s between January 1, 2022 and August 31, 2022 with reference to peer public disclosures. Peer group comprises Bitfarms, Core Scientific, Hut 8, Riot Blockchain, Argo Blockchain, Marathon Digital, Hive Blockchain, Cleanspark and Greenidge. Cash balance as of June 30, 2022. Existing equipment financing is limited recourse financing within wholly owned subsidiaries of the Company. Iris Energy has 2.3 EH/s operating capacity and an additional 1.4 EH/s in commissioning phase. As announced on August 1, 2022, Iris Energy has reached agreement with Bitmain Technologies Limited to ship an additional 1.7 EH/s of contracted S19j Pro miners. Reflects Iris Energy’s electricity costs per Bitcoin mined in FY22. Excludes all other expenses, overheads and fees. 4
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Industry leading data centers 16% more Bitcoin mined per EH/s compared to peer average Bitcoin mined per EH/s (Jan – Aug 2022) Source: Available peer public disclosures as of September 9, 2022. Calculated as the average of monthly Bitcoin mined per EH/s between January 1, 2022 and August 31, 2022. Bitcoin mined per EH/s for peers calculated as Bitcoin mined for the relevant month divided by the average of the reported hashrate for the corresponding month and the immediately preceding month. 5 +16% implied uptime High efficiency proprietary air-cooled data centers No shipping containers or warehouses Miners operated through -30°C (-22°F) to 40°C (104°F) conditions Peer Average: 118
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6 IREN: Leading Nasdaq-listed Bitcoin miner Source: Available peer public disclosures as of September 9, 2022. Installed hashrate as of August 31, 2022. 2.3 EH/s operating capacity and an additional 1.4 EH/s in commissioning phase. Installed hashrate1 (EH/s) 2
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7 Track record of delivery, near-term growth pathway Projects continue to be commissioned on schedule Under Construction Operating capacity 2.3 EH/s operating capacity and an additional 1.4 EH/s in commissioning phase. 1
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8 Balance sheet and mining profitability IREN equity value 45% discount to net assets Balance sheet (as of June 30, 2022) $110m cash, no corporate debt1 $462m net assets2 ~$76m net cash spend anticipated to fully fund 6.0 EH/s of operating capacity3 Existing equipment financing is limited recourse financing within wholly owned subsidiaries of the Company. Net assets = $570m total assets less $108m total borrowings as of June 30, 2022. Indicative estimated net cash spend to fund miners and infrastructure required to reach 6.0 EH/s of operating capacity (as of June 30, 2022). Net cash spend comprises expected remaining capex net of anticipated sales tax and connection deposit refunds. Please see the Coinwarz Bitcoin Mining Calculator (https://www.coinwarz.com/mining/bitcoin/calculator). Inputs for 6.0 EH/s: 6,000 PH/s (hashrate), 190MW (power consumption) and $0.048/kWh (electricity costs) – prefilled link here. Note electricity cost assumption is based on existing BC operations; as Texas is a deregulated power market, future electricity costs for Texas are currently unknown, and are expected to be to influenced by, amongst other things, prevailing market prices around the time of commissioning. Illustrative net revenue = Illustrative gross revenue less assumed mining pool fees. Illustrative mining profit = Illustrative net revenue less assumed electricity costs. The illustrative outputs assume nameplate hashrate is fully installed and operating today using the above assumptions. These assumptions are likely to be different in the future and users should input their own assumptions. Mining profitability potential Assuming 6.0 EH/s of hardware is fully operational today6 (annualized) Bitcoin Price Net Revenue5 Mining Profit5 Illustrative annualized revenue and mining profit (6.0 EH/s)4 $15,000 $20,000 $25,000 $30,000 $135m $180m $225m $270m $55m $100m $145m $190m 2 Assumptions Global hashrate (implied by network difficulty) of ~222 EH/s, transaction fees of ~0.1 BTC per block, pool fees of 0.5% of mining rewards and mining hardware operates at 100% uptime Note: illustrative mining profit excludes all other expenses, overheads and fees (except electricity costs and mining pool fees) THE ABOVE INFORMATION IS FOR GENERAL INFORMATION PURPOSES ONLY. THE NET REVENUE AND MINING PROFIT OUTPUTS ARE FOR ILLUSTRATIVE PURPOSES ONLY AND SHOULD NOT BE CONSIDERED PROJECTIONS OF IRIS ENERGY’S OPERATING PERFORMANCE. SUCH NET REVENUE AND MINING PROFIT OUTPUTS ARE BASED ON IMPORTANT ASSUMPTIONS AND HISTORICAL INFORMATION, INCLUDING INFORMATION AND CALCULATIONS FROM THIRD PARTY SOURCES (INCLUDING WEBSITES). WE HAVE NOT INDEPENDENTLY VERIFIED SUCH INFORMATION AND CALCULATIONS, AND SUCH INFORMATION AND CALCULATIONS ARE SUBJECT TO IMPORTANT LIMITATIONS AND COULD PROVE TO BE INACCURATE. THE ILLUSTRATIVE NET REVENUE AND MINING PROFIT OUTPUTS ARE BASED ON HISTORICAL INFORMATION WHICH MAY OR MAY NOT MATERIALIZE IN THE FUTURE – accordingly, there is no assurance that any illustrative outputs WILL BE ACHIEVED within the timeframes presented or at all OR THAT MINING HARDWARE WILL OPERATE AT 100% UPTIME. THE ABOVE AND THIS PRESENTATION SHOULD BE READ STRICTLY IN CONJUNCTION WITH THE FORWARD-LOOKING STATEMENTS DISCLAIMER ON PAGE 2. (Sep 9, 2022) (Jun 30, 2022)
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Site Overview Capacity (MW) Miners (EH/s)1 Timing Status Canal Flats (BC, Canada) 30 0.8 Complete Operating Mackenzie (BC, Canada) 50 1.5 Complete Operating 30 1.02 Q4 2022 Under construction Prince George (BC, Canada) 50 1.4 Q3 2022 Commissioning Sub-total 160 4.7 Q4 2022 Childress (Texas, US) 40 1.3 2023 Under construction Total 200 6.0 2023 Building multi-decade, institutional-grade infrastructure Average “all-in” power price in BC of ~$0.048/kWh (regulated price fixed every 12 months)3 Progressive build out of an initial 40MW development planned at the 600MW Childress site 6.0 EH/s operating capacity, 4.7 EH/s by Q4 2022 British Columbia Texas 9 Approximately 5.9 EH/s of miners expected to be operating, pending deployment, in transit or scheduled to be shipped over the coming month, with the balance scheduled to be shipped during Q4 2022. There can be no assurance that Iris Energy’s contracted hardware will become fully operational on the anticipated schedule or at all, and such risks and uncertainties surrounding deployment could delay or prevent Iris Energy from achieving the anticipated hashrate capacity. Operating capacity with respect to the final 30MW phase at Mackenzie is expected to increase from 0.6 EH/s to 1.0 EH/s to support 0.4 EH/s of the recently announced 1.7 EH/s of additional Bitmain S19j Pro miners. The average variable cost of electricity for our current operations is approximately C$0.05096/kWh. In addition, we pay a standing monthly demand charge of approximately C$8.6960/kVA (assuming full load uptime). Average “all-in” power price assumes CADUSD exchange rate of 0.78 as well as application of a 2% Deferral Account Rate Rider (discount) applicable until April 1, 2023.
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Experienced Board & management team 10 David Bartholomew Independent Chair 30+ years’ experience across energy utilities, transportation and industrials Former CEO of DUET Group (sold to CKI for $5bn in 2017) Daniel Roberts Co-Founder and Co-CEO 15+ years’ experience across finance, infrastructure and renewables Previously 2nd largest individual shareholder in $6bn infrastructure fund Will Roberts Co-Founder and Co-CEO 10+ years’ experience across resources, commodities & real assets Previously Vice President at Macquarie in Commodities & Global Markets Chris Guzowski Non-Executive Director 10+ years’ experience in renewables development across Europe & Australia Founded Mithra Energy, developing 10+ solar PV projects in Poland Lindsay Ward President 35+ years’ experience across infrastructure, energy & resources Previously CEO of Palisade Integrated Management Services Mike Alfred Non-Executive Director 15+ years’ experience as founding CEO, Board member and advisor Previously CEO of Digital Assets Data, Inc. (sold to NYDIG in 2020) Joanna Brand General Counsel & Company Secretary 25+ years’ experience in corporate, capital markets, M&A & infrastructure Previously General Counsel at ME Bank, Jetstar Airways, Billabong & Epic Energy Belinda Nucifora Chief Financial Officer 25+ years’ experience in CFO & senior finance roles Previously CFO of Laser Clinics Australia and Slater & Gordon Kent Draper VP – Project Development 15+ years’ experience in financing across infrastructure, power and renewables Previous experience with First Solar, RBC and Macquarie Aaron Hawkins VP – Project Development 15+ years’ experience in engineering, asset management and project delivery Previous experience with First Solar, Black & Veach and Aurecon John Juarez VP – Project Development 15+ years’ experience in investment banking and financing Previously head of financing for public-private partnerships at Macquarie Iris Energy’s leadership team has delivered >$25 billion in energy & infrastructure projects David Shaw Chief Operating Officer 30+ years’ experience across energy, utilities and resources Previously SVP Operations Asia-Pacific East at global engineering firm Wood Denis Skrinnikoff Chief Technology Officer 15+ years’ experience in the cloud & data center service provider space Previous senior leadership / M&A experience with TeraGo and RackForce Bom Shin VP – Corporate Finance 14+ years’ experience across investment banking and corporate law Previous experience with RBC, Citi, Highbury and Mallesons Heather Miller VP – People, Culture & Community 15+ years’ people and culture experience across all aspects of HR Previous experience with Nutrien, Agrium and Canadian Pacific Railway
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Capitalization structure Holder Shares (#m)1 Shares (% Total) Founders, board, key management and employees 13.6 24% Institutional (identified)2 16.7 29% Institutional (unidentified) / retail / other 26.7 47% Total3 57.0 100% Founders, board and key management retain a significant holding in Iris Energy, promoting alignment of interest 11 Notes: Shareholding information provided is indicative and is provided for illustrative purposes only. Source: Public filings and indicative Company estimates, as of July 31, 2022. Reflects ordinary shares on issue plus vested options (immediately exercisable or exercisable within 60 days of July 31, 2022).
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Operational update
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Our team has an impressive track record of success across energy, infrastructure, renewables, finance, digital assets and data centers Extensive in-house construction management and operational expertise World class engineering and construction partners Rapidly expanding operational team in Canada and Texas Rolling out standardized proprietary air-cooled data center design Executional excellence 13
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Early procurement of long-lead items to de-risk construction Leveraging relationships with key suppliers to expedite manufacture and delivery Multiple projects allow optimization of standardized equipment delivery Constant review of supply chain improvement opportunities by internal logistics team Sourcing from multiple manufacturers to reduce single point supply chain exposure Supply chain management 14
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Real-time monitoring of mining fleet to maximize uptime and efficiency In-house development team supported by leading service providers Several R&D initiatives underway to further optimize operations 15 Technology-enabled business TBU 15
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Establishing a social license to operate and partnering with local communities is a core focus Committed to working with and supporting local First Nations communities Recent initiatives include: Community Grants Program for Childress (Texas) and Mackenzie (BC) Donation to Raven’s Nest Resort, located on Akisqnuk First Nation land Donation to the Lheidli T’enneh Elder Society’s first ever Moccasin Walk Sponsored the Mackenzie, BC ‘Spring Exposition’ trade fair Sponsored the Mackenzie Mountaineers and Columbia Valley Rockies hockey clubs Community initiatives 4th of July kids parade (Childress) Mackenzie Mountaineers Junior A Hockey Club (Mackenzie) Lheidli T’enneh Elder Society’s Moccasin Walk (Prince George) 16 ‘Spring Exposition’ trade fair (Mackenzie)
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Canal FlatsBritish Columbia, Canada Land: 100% owned Power Source: 100% renewable energy1 Power Capacity: 30MW Miners: 0.8 EH/s Status: Operating Timing: Complete Onsite fabrication facility supports BC build out Center of excellence for research and development Currently approximately 97% from direct renewable energy sources and approximately 3% from the purchase of RECs. 17
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Land: 100% owned Power Source: 100% renewable energy1 Power Capacity: 80MW Miners: 2.5 EH/s Status: 1.5 EH/s (50MW) operating and 1.0 EH/s (30 MW) under construction Expected Timing: End of Q4 2022 MackenzieBritish Columbia, Canada Currently approximately 97% from direct renewable energy sources and approximately 3% from the purchase of RECs. 18
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Land: 50-year lease1 Power Source: 100% renewable energy2 Power Capacity: 50MW Miners: 1.4 EH/s Status: Commissioning phase Expected Timing: September 2022 Prince GeorgeBritish Columbia, Canada 30-year lease including 2 x 10-year extensions plus option to purchase within first 10 years. Currently expected to be approximately 97% from direct renewable energy sources and approximately 3% from the purchase of RECs. 19
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Land: 100% owned Power Source: Excess/under-utilized renewable energy1 Power Capacity: 40MW (initial), connection agreement for up to 600MW Miners: 1.3 EH/s (initial) Status: Preparatory construction and procurement activities ongoing; purchase orders placed on key long-lead items Expected Timing: 2023 Childress CountyTexas, USA Renewable power source and mix to be confirmed closer to time of commissioning. 20
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Financial Summary
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FY22 results – strong revenue and earnings growth YoY +611% +422% +647% +1,791% Adjusted EBITDA is a non-IFRS measure. Please refer to page 23 for reconciliation to the comparable IFRS measure. 22
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FY22 results – Adjusted EBITDA 23 Non-cash. Founders primarily relate to $75 strike options ($370 - $1,850 initial share price vesting) Non-cash mark-to-market of convertible notes converted into equity at IPO Electricity and other site costs includes electricity charges, site employee benefits, repairs and maintenance and site utilities. Share-based payments expense includes expenses recorded on Founder options, including (1) Founder price target options (Executive Director Liquidity and Price Target Options) that vested on IPO during the quarter ended December 31, 2021. No further expense will be recorded in relation to these price target options. (2) Founder long-term options (Executive Director Long-term Target Options) which were granted in September 2021 in connection with the IPO. These long-term options are currently "out of the money" with an exercise price of $75 and initial share price vesting conditions of $370, $650, $925 and $1,850 for each tranche granted. See note 31 of the consolidated financial statements for further information. Share-based payments expense includes expense recorded in relation to incentives issued under the Employee Share Plans, Employee Option Plan and Non-Executive Director Option Plan. Other expense items includes expenses incurred relating to the IPO and the exploration of multiple financing options that did not proceed due to current market conditions and available financing terms. Includes fair value losses recorded on SAFE, convertible notes and associated embedded derivatives that were converted into ordinary shares upon the Group’s listing on the Nasdaq. The net fair value losses recorded on these instruments represents the movement in the share price from date of issuance of these instruments to the IPO listing price of $28. All of these instruments converted to ordinary shares on November 16, 2021, the associated fair value gains/(losses) are non-cash movements and do not impact the cash position of the Group. See note 8 of the consolidated financial statements for further information. The Group uses EBITDA and Adjusted EBITDA as a metric that is useful for assessing its operating performance before the impact of non-cash and other items. EBITDA is net profit or (loss) from operations, as reported in profit and loss, before finance income and expense, tax and depreciation and amortization. Adjusted EBITDA is EBITDA adjusted for removing certain non-cash and other items, including share-based payment expenses, foreign currency gains/(losses) and one-time transactions. US$’000 Year ended June 30, 2022 Year ended June 30, 2021 Bitcoin mining revenue 59,037 7,898 Electricity and other site costs 1 (15,583) (2,855) Other corporate costs (17,225) (3,657) Adjusted EBITDA 26,229 1,386 Adjusted EBITDA margin 44% 18% Reconciliation to consolidated statement of profit or loss Add/(deduct): Other income 12 590 Foreign exchange gains 8,009 2,542 Share-based payments expense – founders 2 (11,442) (141) Share-based payments – other 3 (2,454) (664) Other expense items 4 (4,297) (443) EBITDA 16,057 3,270 Fair value loss and interest expense on hybrid financial instruments 5 (418,726) (60,656) Other finance expense (6,715) (519) Interest income 79 6 Depreciation (7,741) (1,252) Loss before income tax expense (417,046) (59,151) Income tax expense (2,724) (1,239) Loss after income tax expense (419,770) (60,390)
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FY22 results – consolidated statement of profit or loss 24 Non-cash. Primarily relates to founders’ $75 strike options ($370 - $1,850 initial share price vesting) Primarily non-cash mark-to-market of convertible notes converted into equity at IPO US$’000 Year ended June 30, 2022 Year ended June 30, 2021 Revenue Bitcoin mining revenue 59,037 7,898 Other income 12 590 Expenses Depreciation (7,741) (1,252) Electricity charges (10,978) (2,654) Employee benefits expense (7,448) (2,221) Share-based payments expense (13,896) (805) Impairment of assets (167) (432) Loss on disposal of assets - (202) Professional fees (6,807) (980) Other operating expenses (11,705) (466) Operating profit/(loss) 307 (524) Finance expense (425,441) (61,175) Interest income 79 6 Foreign exchange gain 8,009 2,542 Loss before income tax expense (417,046) (59,151) Income tax expense (2,724) (1,239) Loss after income tax expense (419,770) (60,390)
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FY22 results – consolidated statement of financial position 25 Primarily non-cash mark-to-market of convertible notes converted into equity at IPO US$’000 As at June 30, 2022 As at June 30, 2021 Assets Cash and cash equivalents 109,970 38,990 Other receivables 23,654 793 Prepayments and other assets 26,630 647 Total current assets 160,254 40,430 Property, plant and equipment 247,562 15,935 Right-of-use assets 1,253 1,404 Goodwill 634 659 Deferred tax assets 2,235 911 Mining hardware prepayments 158,184 75,129 Other assets 338 - Total non-current assets 410,206 94,038 Total assets 570,460 134,468 Liabilities Borrowings 60,484 71,983 Embedded derivatives - 96,721 Income tax 1,204 533 Employee benefits 2,136 109 Trade and other payables 18,813 1,118 Provisions 2,469 - Total current liabilities 85,106 170,464 Borrowings 47,803 11,840 Deferred tax liabilities 189 1,618 Total non-current liabilities 47,992 13,458 Total liabilities 133,098 183,922 Equity Issued Capital 926,581 10,338 Reserves (6,814) 2,843 Accumulated losses (482,405) (62,635) Total equity 437,362 (49,454) Total equity and liabilities 570,460 134,468
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Questions
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Thank You