Iris Energy Limited (IREN) 6-K 26 Nov 24 Current report (foreign) Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Sep. 30, 2024
Cover [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Sep. 30, 2024
Current Fiscal Year End Date	--06-30
Entity Registrant Name	Iris Energy Ltd
Entity Central Index Key	0001878848
Entity File Number	001-41072
Entity Address, Address Line One	Level 6
Entity Address, Address Line Two	55 Market Street
Entity Address, City or Town	Sydney, NSW
Entity Address, Country	AU
Entity Address, Postal Zip Code	2000

Unaudited interim consolidated

Unaudited interim consolidated statements of profit or loss and other comprehensive income - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Revenue
Other income	$ 1,626	$ 0
Expenses
Depreciation	(34,009)	(7,620)
Electricity charges	(29,822)	(19,365)
Realized gain/(loss) on financial asset	(4,215)	3,018
Employee benefits expense	(7,721)	(4,177)
Share-based payments expense	(8,184)	(5,840)
Impairment of assets	(9,524)	0
Site expenses	(2,365)	(1,853)
Professional fees	(2,812)	(1,580)
Other operating expenses	(9,769)	(4,281)
Gain on disposal of property, plant and equipment	838	10
Renewable energy certificates (RECs)	(648)	(127)
Operating loss	(53,841)	(7,418)
Finance expense	(63)	(33)
Interest income	2,289	713
Foreign exchange gain/(loss)	1,190	2,258
Loss before income tax expense	(50,425)	(4,480)
Income tax expense	(1,282)	(821)
Loss after income tax expense for the period	(51,707)	(5,301)
Items that may be reclassified subsequently to profit or loss
Foreign currency translation	1,850	(3,589)
Other comprehensive income/(loss) for the period, net of tax	1,850	(3,589)
Total comprehensive loss for the period	$ (49,857)	$ (8,890)
Basic earnings per share (in dollars per share)	$ (0.0027)	$ (0.0008)
Diluted earnings per share (in dollars per share)	$ (0.0027)	$ (0.0008)
Bitcoin mining revenue
Revenue
Revenue	$ 49,575	$ 34,397
AI cloud service revenue
Revenue
Revenue	$ 3,189	$ 0

Unaudited interim consolidate_2

Unaudited interim consolidated statements of financial position - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024
Current assets
Cash and cash equivalents	$ 98,589	$ 404,601
Other receivables	23,918	29,367
Financial assets at fair value through profit or loss	0	6,530
Prepayments and deposits	25,586	11,888
Current assets excluding assets classified as held for sale	148,093	452,386
Assets held for sale	10,696	0
Total current assets	158,789	452,386
Non-current assets
Property, plant and equipment	965,994	441,371
Right-of-use assets	2,425	1,549
Computer hardware prepayments	130,498	239,841
Prepayments and deposits	22,924	17,459
Other assets	581	427
Total non-current assets	1,122,422	700,647
Total assets	1,281,211	1,153,033
Current liabilities
Trade and other payables	120,757	32,119
Lease liabilities	368	214
Income tax	2,647	1,389
Employee benefits	3,722	1,342
Deferred revenue	2,349	2,558
Provisions	16,196	13,375
Total current liabilities	146,039	50,997
Non-current liabilities
Lease liabilities	2,232	1,441
Deferred tax liabilities	3,189	3,125
Employee benefits	203	119
Total non-current liabilities	5,624	4,685
Total liabilities	151,663	55,682
Equity
Issued capital	1,843,183	1,764,289
Foreign currency translation reserve	(33,143)	(34,993)
Share-based payments reserve	54,446	51,286
Accumulated losses	(734,938)	(683,231)
Total equity	1,129,548	1,097,351
Total liabilities and equity	$ 1,281,211	$ 1,153,033

Unaudited interim consolidate_3

Unaudited interim consolidated statements of changes in equity - USD ($) $ in Thousands	Total	Issued capital	Foreign currency translation reserves	Share-based payments reserves	Accumulated losses
Beginning balance at Jun. 30, 2023	$ 305,361	$ 965,857	$ (34,655)	$ 28,435	$ (654,276)
Changes in equity [abstract]
Loss after income tax expense for the period	(5,301)	0	0	0	(5,301)
Other comprehensive loss for the period, net of tax	(3,589)	0	(3,589)	0	0
Total comprehensive loss for the period	(8,890)	0	(3,589)	0	(5,301)
Transactions with owners in their capacity as owners:
Capital raise costs	(308)	(308)	0	0	0
Share issuances - paid	10,032	10,032	0	0	0
Share-based payments	4,330	0	0	4,330	0
Ending balance at Sep. 30, 2023	310,525	975,581	(38,244)	32,765	(659,577)
Beginning balance at Jun. 30, 2024	1,097,351	1,764,289	(34,993)	51,286	(683,231)
Changes in equity [abstract]
Loss after income tax expense for the period	(51,707)	0	0	0	(51,707)
Other comprehensive loss for the period, net of tax	1,850	0	1,850	0	0
Total comprehensive loss for the period	(49,857)	0	1,850	0	(51,707)
Transactions with owners in their capacity as owners:
Capital raise costs	(2,357)	(2,357)	0	0	0
Share issuances - paid	75,502	75,502	0	0	0
Share-based payments	8,909	5,749	0	3,160	0
Ending balance at Sep. 30, 2024	$ 1,129,548	$ 1,843,183	$ (33,143)	$ 54,446	$ (734,938)

Unaudited interim consolidate_4

Unaudited interim consolidated statements of cash flows - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Receipts from other income	$ 541	$ 0
Payments for electricity, suppliers and employees	(61,226)	(30,851)
Interest received	3,637	630
Interest paid	(17)	(48)
Net cash from/(used in) operating activities	(3,816)	3,875
Cash flows from investing activities
Payments for property, plant and equipment net of computer hardware prepayments	(105,831)	(8,730)
Payments for computer hardware prepayments	(277,558)	(9,087)
Payments for prepayments and deposits	(4,257)	0
Proceeds from disposal of property, plant and equipment	509	0
Net cash used in investing activities	(387,137)	(17,817)
Cash flows from financing activities
Capital raising costs	(102)	(242)
Proceeds from loan funded shares	816	0
Share issuances	83,955	9,315
Repayment of lease liabilities	(99)	(67)
Net cash from financing activities	84,570	9,006
Net decrease in cash and cash equivalents	(306,383)	(4,936)
Cash and cash equivalents at the beginning of the period	404,601	68,894
Effects of exchange rate changes on cash and cash equivalents	371	214
Cash and cash equivalents at the end of the period	98,589	64,172
Bitcoin mining revenue
Cash flows from operating activities
Receipts from revenue	49,575	34,144
AI cloud service revenue
Cash flows from operating activities
Receipts from revenue	$ 3,674	$ 0

General information

General information	3 Months Ended
	Sep. 30, 2024
General information [Abstract]
General information	Note 1. General information These unaudited interim consolidated financial statements cover Iris Energy Limited (d/b/a IREN) as a Group consisting of Iris Energy Limited d/b/a IREN (“Company” or “Parent Entity”) and the entities it controlled at the end of, or during, the period (collectively the “Group”). The Company’s shares trade on the NASDAQ under the ticker symbol “IREN”. Iris Energy Limited (d/b/a IREN) is incorporated and domiciled in Australia. Its registered office and principal place of business are: Registered office Principal place of business c/o Pitcher Partners Level 6, 55 Market Street Level 13, 664 Collins Street Sydney NSW 2000 Docklands VIC 3008 Australia Australia The Group is a leading next-generation data center business powering the future of Bitcoin, AI and beyond. The unaudited interim consolidated financial statements were authorized for issue, in accordance with a resolution of Directors, on 22 November 2024. The Directors have the power to amend and reissue the unaudited interim consolidated financial statements.

Material accounting policies

Material accounting policies	3 Months Ended
	Sep. 30, 2024
Disclosure of initial application of standards or interpretations [abstract]
Material accounting policies	Note 2. Material accounting policies These unaudited interim consolidated financial statements for the period ended 30 September 2024 have been prepared in accordance with IAS 34 Interim Financial Reporting , and should be read in conjunction with the Group’s last annual consolidated financial statements as at and for the year ended 30 June 2024 (‘last annual financial statements’). They do not include all of the information required for a complete set of financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”). However, selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in the Group’s financial position and performance since the last annual financial statements for the year ended 30 June 2024. The accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period, except for the policies stated below. Functional currency Effective 1 July 2024, the Parent Company has changed its functional currency from AUD to USD. This change reflects the increase in USD-denominated activities and US-based investments, including capital raising in USD, capital and operational expenditures and revenues. The change has been accounted for prospectively, and prior period comparative figures have not been restated, in accordance with IAS 21. Assets held for sale Non-current assets are classified as assets held for sale if it is highly probable that they will be recovered primarily through sale rather than through continuing use. Assets held for sale are stated at the lower of carrying amount and fair value less costs to sell. Impairment losses on initial classification as held-for-sale and subsequent gains or losses on remeasurement are recognized in profit and loss. Once classified as held for sale, property plan and equipment are no longer depreciated. Going concern The Group has determined there is material uncertainty that may cast significant doubt on the Group’s ability to continue as a going concern but has concluded it is appropriate to prepare the consolidated financial statements on a going concern basis which contemplates continuity of normal business activities, the realization of assets and settlement of liabilities in the ordinary course of business. The operating cash flows generated by the Group are inherently linked to several key uncertainties and risks including, but not limited to, volatility associated with the economics of Bitcoin mining and the ability of the Group to execute its business plan. For the three months ended 30 September 2024, t he Group incurred a loss after tax of $51,707,000 (30 September 2023: $5,301,000) and net operating cash outflows of $3,816,000 (30 September 2023: cash inflows of $3,875,000). As at 30 September 2024, the Group had net current assets of $12,750,000 (30 June 2024: net current assets of $401,389,000) and net assets of $1,129,548,000 (30 June 2024: net assets of $1,097,351,000). As further background, the Group owns mining hardware that is designed specifically to mine Bitcoin and its future success will depend in a large part upon the value of Bitcoin, and any sustained decline in its value could adversely affect the business and results of operations. Specifically, the revenues from Bitcoin mining operations are predominantly based upon two factors: (i) the number of Bitcoin rewards that are successfully mined and (ii) the value of Bitcoin. A decline in the market price of Bitcoin, increases in the difficulty of Bitcoin mining, changes in the regulatory environment, and/or adverse changes in other inherent risks may significantly negatively impact the Group’s operations. Due to the volatility of the Bitcoin price and the effects of the other aforementioned factors, there can be no guarantee that future mining operations will be profitable, or the Group will be able to raise capital to meet growth objectives. The strategy to mitigate these risks and uncertainties is to try to execute a business plan aimed at operational efficiency, revenue growth, improving overall mining profit, managing operating expenses and working capital requirements, maintaining potential capital expenditure optionality, and securing additional financing, as needed, through one or more debt and/or equity capital raisings. We are also pursuing a strategy to expand and diversify our revenue streams into new markets. Pursuant to that strategy, we are increasing our focus on diversification into HPC solutions, including the provision of AI cloud services. The continuing viability of the Group and its ability to continue as a going concern and meet its debts and commitments as they fall due are therefore significantly dependent upon several factors. These factors have been considered in preparing a cash flow forecast over the next 12 months to consider the going concern of the Group. The key assumptions include: • A base case scenario assuming recent Bitcoin economics including Bitcoin prices and global hashrate; • Three operational sites in British Columbia, Canada with installed nameplate capacity of 160MW; 80MW Mackenzie, 50MW Prince George and 30MW Canal Flats; • A fourth operational site at Childress, Texas with installed nameplate capacity of 200MW as at 31 October 2024 incrementally increasing to 350MW by 31 December 2024; • 1,896 GPUs in operation from 1 December 2024, with projected revenue based on existing contracted prices and recent market pricing of AI cloud services provided to customers; • Securing additional financing as required to achieve the Group’s growths objectives. The key assumptions have been stress tested using a range of Bitcoin price and global hashrate. The Group aims to maintain a degree of flexibility in both operating and capital expenditure cash flow management where it practicably makes sense, including ongoing internal cash flow monitoring and projection analysis performed to identify potential liquidity risks arising and to try to respond accordingly. As a result, the Group has concluded there is material uncertainty related to events or conditions that may cast significant doubt on the Group’s ability to continue as a going concern and, therefore, that it may be unable to realize its assets and discharge its liabilities in the normal course of business. However, the Group considers that it will be successful in the above matters and will have adequate cash reserves to enable it to meet its obligations for at least one year from the date of approval of the consolidated financial statements, and, accordingly, has prepared the consolidated financial statements on a going concern basis. New or amended Accounting Standards and Interpretations adopted The Group has adopted all of the new or amended IFRS and Interpretations as issued by the International Accounting Standards Board (“IASB”) that are mandatory for the current reporting period. Any new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted. The Group believes that the impact of recently issued standards or amendments to existing standards that are not yet effective will not have a material impact on the Group’s unaudited interim consolidated financial statements.

Critical accounting judgements,

Critical accounting judgements, estimates and assumptions	3 Months Ended
	Sep. 30, 2024
Critical accounting judgements, estimates and assumptions [Abstract]
Critical accounting judgements, estimates and assumptions	Note 3. Critical accounting judgements, estimates and assumptions When preparing the unaudited interim Consolidated Financial Statements, management undertakes a number of judgments, estimates and assumptions about recognition and measurement of assets, liabilities, income and expenses. The actual results may differ from the judgements, estimates and assumptions made by management, and will seldom equal the estimated results. Other than the change in Functional Currency of the Company (refer to note 2 - Material accounting policies), the judgments, estimates and assumptions applied to the unaudited interim Consolidated Financial Statements, including the key sources of estimation uncertainty, were the same as those applied in the Group's Consolidation Financial Statement for the year ended 30 June 2024.

Other income

Other income	3 Months Ended
	Sep. 30, 2024
Analysis of income and expense [abstract]
Other income	Note 4. Other income Three months ended Three months ended 30 Sep 2024 30 Sep 2023 US$'000 US$'000 ERS Revenue 1,626 - Total other income 1,626 - Other income comprises income generated from an Emergency Response Service (“ERS”) program entered into in Texas. This ERS program is a demand response program designed to help Electric Reliability Council of Texas (“ERCOT”) mitigate rolling blackouts. The Group receives recurring capacity payments for agreeing to curtail electricity consumption in response to abnormally high electricity demand or other grid emergencies. Other income is generated by the Group’s participation in this program at the site in Childress, Texas, and the revenue is recognized on a monthly basis depending on electricity related factors as determined by the operator.

Other operating expenses

Other operating expenses	3 Months Ended
	Sep. 30, 2024
Other operating expenses [Abstract]
Other operating expenses	Note 5. Other operating expenses Three months ended Three months ended 30 Sep 2024 30 Sep 2023 US$'000 US$'000 Insurance 2,992 1,652 Sponsorship and marketing 578 293 Loss on theft of PPE in transit 1,724 - ERS fees 98 - Charitable donations 74 141 Filing fees 22 18 Other expenses 627 269 Non-refundable sales tax (See note 15 - Provisions) 2,681 1,594 Non-refundable provincial sales tax 973 314 Total other operating expenses 9,769 4,281 Other operating expenses previously included site expenses, however, for the period ended 30 September 2024, site expenses has been presented as a separate financial statement line item. Comparative figures have been updated accordingly. Loss on theft of PPE in transit In July 2024, a shipment of mining hardware with a carrying value of $1,724,000 was stolen whilst in transit to the Group’s site at Childress. The hardware has been written off during the period resulting in a loss of $1,724,000. As at 30 September 2024, insurance claims had been submitted with the relevant insurers. These claims were subsequently approved (less a non-deductible amount of $25,000) with the associated insurance proceeds recorded as Other Income in October 2024 (Refer to note 22 - Events after the reporting period).

Cash and cash equivalents

Cash and cash equivalents	3 Months Ended
	Sep. 30, 2024
Cash and cash equivalents [abstract]
Cash and cash equivalents	Note 6. Cash and cash equivalents 30 Sep 2024 30 Jun 2024 US$'000 US$'000 Current assets Cash at bank 98,589 304,601 Cash on deposit (cash equivalents) - 100,000 Total cash and cash equivalents 98,589 404,601 Cash on deposit includes term deposits with maturities of less than 90 days and are therefore considered cash and cash equivalents.

Other receivables

Other receivables	3 Months Ended
	Sep. 30, 2024
Other receivables [Abstract]
Other receivables	Note 7. Other receivables 30 Sep 2024 30 Jun 2024 US$'000 US$'000 Current assets Trade receivables 126 152 Government grant receivable 1,395 2,078 Share issuance proceeds 5,851 16,563 Interest receivable 158 1,472 ERS receivable 2,020 1,128 Other receivables 96 130 Goods and services tax receivable 14,272 7,844 Total other receivables 23,918 29,367

Financial asset at fair value t

Financial asset at fair value through profit or loss	3 Months Ended
	Sep. 30, 2024
Current financial assets at fair value through profit or loss [abstract]
Financial asset at fair value through profit or loss	Note 8. Financial asset at fair value through profit or loss 30 Sep 2024 30 Jun 2024 US$'000 US$'000 Current assets Electricity financial asset - 6,530 Reconciliation Reconciliation of the fair values at the beginning and end of the current and previous financial period are set out below: Opening fair value 6,530 - Additions 15,686 28,332 Financial asset realized (6,530) (18,354) Revaluation decrements (unrealized loss) - (3,448) Close-out costs (7,211) - Transfer to prepayment (8,475) - Closing fair value - 6,530 Power Supply Agreement A subsidiary of the Company previously entered into a Power Supply Agreement ("PSA") for the procurement of electricity at the Childress site. Under the PSA, the subsidiary had the right to purchase a fixed quantity of electricity in advance at a fixed price however, the subsidiary had no obligation to take physical delivery of electricity purchased. For any unused electricity purchased, the subsidiary sold the unused electricity to the counterparty of the PSA at the prevailing spot price at the time of curtailment. As the PSA met the definition of a financial instrument under IAS 32, it was previously accounted for as a financial asset at fair value through profit and loss under IFRS 9. An addendum to the PSA was signed on 23 August 2024 which allows for the purchase of electricity at spot price based on actual usage. The addendum resulted in the payment of a liquidation payment of $7,211,000 to exit positions previously entered into under the fixed quantity and price arrangements. As such, this liquidation fee is recognized as a realized loss on financial asset. The addendum to the PSA does not meet the definition of a financial instrument under IAS 32, accordingly there is no corresponding financial asset recognized as at 30 September 2024. Realized loss on financial asset During the period ended 30 September 2024 a realized loss of $4,215,000 (30 September 2023: gain of $3,018,000) was incurred comprising of the liquidation payment of $7,211,000, $452,000 realized loss on fixed price contracts incurred in July 2024, partially offset by the reversal of the $3,448,000 unrealized loss recorded on fixed price contracted amounts outstanding at 30 June 2024.

Computer hardware prepayments

Computer hardware prepayments	3 Months Ended
	Sep. 30, 2024
Computer hardware prepayments [Abstract]
Computer hardware prepayments	Note 9. Computer hardware prepayments 30 Sep 2024 30 Jun 2024 US$'000 US$'000 Non-current assets Mining hardware prepayments 122,363 239,841 High-performance computing hardware prepayments 8,135 - Total computer hardware prepayments (See note 12 - Property, plant and equipment) 130,498 239,841 Computer hardware prepayments represent payments made by the Group for the purchase of mining hardware and High-performance computing ("HPC") hardware, that are yet to be delivered as at 30 September 2024. These prepayments are in accordance with payment schedules set out in relevant purchase agreements with hardware manufacturers. Reconciliations Mining hardware prepayments High-performance computing hardware prepayments Total computer hardware prepayments (See note 12 - Property, plant and equipment) US$'000 US$'000 US$'000 Balance at 1 July 2024 239,841 - 239,841 Addition during the period 297,077 8,135 305,212 Transfer to PPE (415,798) - (415,798) Exchange differences 1,243 - 1,243 Balance at 30 September 2024 122,363 8,135 130,498

Prepayments and deposits

Prepayments and deposits	3 Months Ended
	Sep. 30, 2024
Current prepayments and current accrued income other than current contract assets [abstract]
Prepayments and deposits	Note 10. Prepayments and deposits 30 Sep 2024 30 Jun 2024 US$'000 US$'000 Current assets Security deposits 1,160 2,101 Prepayments 24,426 9,787 25,586 11,888 Non-current assets Security deposits 22,924 17,459 Total prepayments and other assets 48,510 29,347 The increase in current prepayments primarily relates to electricity prepayments in relation to the Childress site which increased following the addendum to the PSA signed on 23 August 2024 (refer to note 8 - Financial asset at fair value through profit or loss). Non-current deposits include connection deposits paid for expansion projects in British Columbia, Canada and West Texas, USA.

Assets held for sale

Assets held for sale	3 Months Ended
	Sep. 30, 2024
Non-Current Assets Held For Sale And Discontinued Operations [Abstract]
Assets held for sale	Note 11. Assets held for sale 30 Sep 2024 US$’000 S19jPros Carrying value prior held for sale classification 13,278 Impairment expense (2,582) Held for sale amount at 30 September 2024 10,696 On 1 September 2024, as part of IREN’s Bitcoin mining hardware fleet upgrade, the Group classified the majority of its S19jPro mining hardware as held for sale in accordance with IFRS 5 Non- current Assets Held for Sale. As per IFRS 5, non-current assets classified as held for sale must be measured at the lower of their carrying value and fair value less costs to sell. Consequently, a further impairment loss of $2,582,000 was recognized to adjust the carrying value of the miners to their estimated fair value less costs to sell as at 30 September 2024. The subsequent carrying value of the assets held for sale is $10,696,000 as at 30 September 2024 (30 September 2023: nil). Refer to note 13 - Impairment of assets. As disclosed in note 22 - Events after the reporting period, 41,700 of the held for sale S19j Pro miners were sold after 30 September 2024. As at the date of the unaudited interim consolidated financial statements, approximately 12,300 S19j Pro miners remain as held for sale.

Property, plant and equipment

Property, plant and equipment	3 Months Ended
	Sep. 30, 2024
Disclosure of detailed information about property, plant and equipment [abstract]
Property, plant and equipment	Note 12. Property, plant and equipment 30 Sep 2024 30 Jun 2024 US$'000 US$'000 Non-current assets Land - at cost 3,938 3,601 Buildings - at cost 291,149 215,542 Less: Accumulated depreciation (16,424) (13,237) 274,725 202,305 Plant and equipment - at cost 6,256 4,856 Less: Accumulated depreciation (1,351) (1,142) 4,905 3,714 Mining hardware - at cost 521,755 177,766 Less: Accumulated depreciation (16,166) (54,892) Less: Accumulated impairment (6,941) (25,605) 498,648 97,269 HPC hardware – at cost 33,678 33,315 Less: Accumulated depreciation (3,525) (1,779) 30,153 31,536 Development assets - at cost 153,625 102,946 Total property, plant and equipment 965,994 441,371 Reconciliations Reconciliations of the written down values at the beginning and end of the current period are set out below: Land Buildings Plant and equipment Mining hardware HPC hardware Development assets Total Consolidated US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Balance at 1 July 2024 3,601 202,305 3,714 97,269 31,536 102,946 441,371 Additions 322 1,244 1,361 59,069 - 123,905 185,901 Transfer from computer hardware prepayment - - - 415,798 - - 415,798 Disposals - - - (24,553) - - (24,553) Exchange differences 15 939 28 202 334 91 1,609 Impairment - - - (6,942) - - (6,942) Transfers in/(out) - 73,317 - - - (73,317) - Transfer to asset held for sale - - - (13,278) - - (13,278) Depreciation expense - (3,080) (198) (28,917) (1,717) - (33,912) Balance at 30 September 2024 3,938 274,725 4,905 498,648 30,153 153,625 965,994 Depreciation of mining hardware commences once units are installed onsite and available for use. Of the $28,917,000 depreciation expense for mining hardware recognized during the period, $15,330,000 relates to mining hardware that was either sold or classified as held for sale during the period. Development assets includes costs related to the development of data center infrastructure at Childress, Texas along with other early-stage development costs. Depreciation will commence on the development assets at Childress as each phase of the underlying infrastructure becomes available for use. Depreciation in the consolidated statements of profit or loss also includes $97,000 of right-of-use assets depreciation. Bitmain T21 mining hardware During the three months ended 30 September 2024, Bitmain replaced 1.8 EH/s of faulty Bitmain T21 miners under its warranty obligations, with miners of the same model and specification at no additional cost to the subsidiary of the Group that owned the miners. This replacement transaction qualifies as a non-monetary exchange under IFRS, as no cash or financial instruments were involved in the exchange. The subsidiary did not receive a right to receive any fixed or determinable number of currency units, and the replacement was completed solely through the exchange of non-monetary assets. Consequently, the replacement units received have been included as an addition in the property, plant and equipment reconciliation at their fair value on recognition of $25,204,000. The units returned have been included as a disposal in the property plant and equipment reconciliation at their carrying amount on disposal of $24,284,000. The difference between the carrying amount of the faulty miners returned and the fair value of the new miners received resulted in the recognition of a gain in the consolidated statements of profit or loss. Accordingly, a gain of $920,000 has been recognized as a "Gain on Warranty" as set out in the table below: Gain on disposal of property, plant and equipment Three months ended Three months ended 30 Sep 2024 30 Sep 2023 US$'000 US$'000 Gain on Warranty 920 - Gain/(loss) on disposal of mining hardware (82) 10 Total gain on disposal of property, plant and equipment 838 10

Impairment of assets

Impairment of assets	3 Months Ended
	Sep. 30, 2024
Disclosure Of Impairment Of Assets [Abstract]
Impairment of assets	Note 13. Impairment of assets Three months ended Three months ended 30 Sep 2024 30 Sep 2023 US$'000 US$'000 Impairment of assets subsequently classified as held for sale 6,836 - Impairment of revaluation of assets classified as held for sale 2,582 - Impairment of mining hardware 106 - Total impairment expense 9,524 -

Trade payables and lease liabil

Trade payables and lease liabilities	3 Months Ended
	Sep. 30, 2024
Presentation of leases for lessee [abstract]
Trade payables and lease liabilities	Note 14. Trade payables and lease liabilities 30 Sep 2024 30 Jun 2024 US$'000 US$'000 Current liabilities Trade and other payables 120,757 32,119 Lease liability 368 214 Total current liabilities 121,125 32,333 Non-current liabilities Lease liability 2,232 1,441 Total trade payables and lease liabilities 123,357 33,774 Lease liabilities The Group's lease liability includes a 30-year lease of a site in Prince George, B.C., Canada, a new five-year lease of a corporate office in Sydney, Australia and a five-year corporate office lease in Vancouver, B.C., Canada.

Provisions

Provisions	3 Months Ended
	Sep. 30, 2024
Provisions [abstract]
Provisions	Note 15. Provisions 30 Sep 2024 30 Jun 2024 US$'000 US$'000 Current liabilities Non-refundable sales tax and other provisions 16,196 13,375 Non-Refundable Sales Tax The Canada Revenue Agency ("CRA") is currently conducting an audit of input tax credits ("ITCs") claimed by several of the Group’s Canadian subsidiaries. The CRA has issued an assessment in relation to one of the subsidiaries which, the Directors believe may be applied across the Group’s Canadian subsidiaries. Under the proposed decision, the CRA has noted that ITCs claimed by the Group would be allowed. However, the Canadian subsidiaries would also be required to remit an amount of 5% on services exported to the Australian parent under an intercompany service agreement. The export of services typically attract a 0% rate of GST in Canada. If GST were to apply to these services at a rate of 5%, the Australian parent may not be permitted to recover this tax. During the period ended 30 September 2024, the Group has submitted additional information to the CRA to further support the ITCs claimed and the 0% rate applied to the exported services in addition to the formally submitted notice of objection that was sent to the CRA in November 2022. The CRA provided an initial response to the Group's formal notice of objection in April 2024, to which the Group responded to in July 2024. The Group has yet to receive further correspondence from the CRA in relation to the matter. Additionally, amendments were made to Canadian Tax legislation in June 2023 regarding Mining Activities in respect of Cryptoassets. The CRA has yet to clarify its interpretation of this legislation and the application to the subsidiaries of the Group. The Group continues to monitor developments in this regard. Consequently, the affected subsidiaries continue to accrue a provision in line with the aforementioned methodology.

Issued capital

Issued capital	3 Months Ended
	Sep. 30, 2024
Disclosure of classes of share capital [abstract]
Issued capital	Note 16. Issued capital Consolidated 30 Sep 2024 30 Jun 2024 30 Sep 2024 30 Jun 2024 Shares Shares US$'000 US$'000 Ordinary shares - fully paid and unrestricted 197,129,482 186,367,686 1,843,183 1,764,289 Movements in ordinary share capital Details Date Shares US$'000 Opening balance as at 1 July, 2024 186,367,686 1,764,289 Shares issued under the ATM Facility 9,138,867 75,502 Share based payment - Vested shares 1,622,929 5,749 Capital raise costs - (2,357) Closing balance as at 30 September, 2024 197,129,482 1,843,183 At-the-market Facility On 13 September 2023, Iris Energy Limited (d/b/a IREN) entered into an At-the-market ("ATM") Sales Agreement with B. Riley Securities, Inc., Cantor Fitzgerald & Co. and Compass Point Research & Trading, LLC, pursuant to which Iris Energy Limited (d/b/a IREN) has the option, but not the obligation, to sell up to $300,000,000 of its Ordinary shares through or to the Sales Agents, for a period of up to 36 months. On 21 March 2024, the Company added Canaccord Genuity LLC, Citigroup Global Markets Inc. and Macquarie Capital (USA) Inc. as Sales Agents pursuant to the Sales Agreement and filed a new prospectus supplement relating to the offer and sales of its ordinary shares under the Sales Agreement, which reflected an increase of $200,000,000 in the aggregate offering price, from an aggregate of up to $300,000,000 under the previously filed prospectus supplement relating to the offer and sale of ordinary shares under the Sales Agreement (“the ATM Facility”). On 15 May 2024, Iris Energy Limited (d/b/a IREN) filed a new registration statement, including an accompanying prospectus, that provided Iris Energy Limited (d/b/a IREN) with the option, but not the obligation, to sell up to an aggregate of $500,000,000 of its Ordinary shares pursuant to the Sales Agreement. As at 30 September 2024, 117,202,735 shares have been issued under the ATM facility raising total gross proceeds of approximately $846,939,000. Subsequent to 30 September 2024, the Company issued a further 16,268,604 Ordinary shares for total gross proceeds of approximately $146,265,000. Loan-funded shares As at 30 September 2024, there are 1,006,572 (30 June 2024: 1,496,768) loan funded shares. The total number of ordinary shares outstanding (including the loan funded shares) is 198,136,054 as at 30 September 2024 (30 June 2024: 187,864,454).

Earnings per share

Earnings per share	3 Months Ended
	Sep. 30, 2024
Earnings per share [abstract]
Earnings per share	Note 17. Earnings per share Three months ended Three months ended 30 Sep 2024 30 Sep 2023 US$'000 US$'000 Loss after income tax (51,707) (5,301) Number Number Weighted average number of ordinary shares used in calculating basic earnings per share 189,262,447 65,279,263 Weighted average number of ordinary shares used in calculating diluted earnings per share 189,262,447 65,279,263 US$ US$ Basic earnings per share (0.27) (0.08) Diluted earnings per share (0.27) (0.08) As the Group has recorded a loss after tax for all periods presented, any potential ordinary shares are antidilutive.

Contingent liabilities

Contingent liabilities	3 Months Ended
	Sep. 30, 2024
Disclosure of contingent liabilities [abstract]
Contingent liabilities	Note 18. Contingent liabilities NYDIG, who was the lender under limited recourse equipment financing loans to IE CA 3 Holdings Ltd. and IE CA 4 Holdings Ltd. (bankrupt entities for which PricewaterhouseCoopers is currently acting as trustee) (Non-Recourse SPVs), has brought claims against the Non-Recourse SPVs and Iris Energy Limited (d/b/a IREN). All claims except the oppression remedy, which had been dismissed by the Trial Court, were unsuccessful. On 27 June 2024, the oppression claim was remitted by the Court of Appeal to the Trial Court for consideration. The matter has not been listed in the Trial Court as at the date of these interim financial statements.

Commitments

Commitments	3 Months Ended
	Sep. 30, 2024
Commitments [Abstract]
Commitments	Note 19. Commitments As at 30 September 2024, the Group had commitments of $125,664,000 (30 June 2024: $194,641,000) which are payable in installments as set out below. As at 30 September 2024, total Group commitments are set out in the table below (excludes shipping and taxes). 30 Sep 2024 30 Jun 2024 US$'000 US$'000 Mining Hardware Amounts payable within 12 months of balance date 46,217 116,982 Amounts payable after 12 months of balance date - - Other Commitments Amounts payable within 12 months of balance date 78,797 77,659 Amounts payable after 12 months of balance date 650 - Total Commitments 125,664 194,641

Share-based payments

Share-based payments	3 Months Ended
	Sep. 30, 2024
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Share-based payments	Note 20. Share-based payments The Group has entered into a number of share-based compensation arrangements. Details of these arrangements, which are considered as options for accounting purposes, are described in Group’s Consolidated Financial Statements for the year ended 30 June 2024. • Employee Share Plan • 2021 Executive Director Liquidity and Price Target Options • Employee Option Plan • Non-Executive Director Option Plan • $75 Exercise Price Options • 2022 Long-Term Incentive Plan Restricted Stock Units ("2022 LTIP") • 2023 Long-Term Incentive Plan Restricted Stock Units ("2023 LTIP") (see below for the grants made under the 2023 LTIP during the quarter ending 30 September 2024) During the three months ended 30 September 2024, the following grants were made under the 2023 LTIP: • 582,613 restricted stock units ("RSUs") to certain employees and key management personnel (“KMP”) of the Group were issued RSUs of which: - 151,594 RSUs are subject to time-based vesting conditions and will vest after one year; - 151,594 RSUs are subject to time-based vesting conditions and will vest after two years - 279,425 RSUs are subject to performance-based vesting conditions and will vest after three years based on total shareholder return measured against the Nasdaq Small Cap Index (NQUSS) (and continued service over the vesting period). • 53,811 RSUs to certain Non-Executive Directors. These RSUs will vest after one year. • 1,338,391 RSUs granted to each Co-Founder and Co-CEO (or their nominated entity) will vest as follows (subject to the relevant criteria disclosed which is tested at the end of each respective vesting period): ◦ 118,099 will vest following one year of continued service; ◦ 118,099 will vest following two years of continued service; ◦ 118,099 will vest following three years of continued service; and ◦ 984,094 will vest subject to the achievement of share price milestones across 7 tranches, with the vesting of each tranche based on the relevant Ordinary share price across any 30 trading day average prior to 2027 being equal to or exceeding: ▪ $20 share price for 116,857 RSUs (190% premium to 90-day average closing price of $6.91 on June 28, 2024) ▪ $25 share price for 124,359 RSUs (262% premium to 90-day average closing price of $6.91 on June 28, 2024) ▪ $30 share price for 131,970 RSUs (334% premium to 90-day average closing price of $6.91 on June 28, 2024) ▪ $35 share price for 140,228 RSUs (407% premium to 90-day average closing price of $6.91 on June 28, 2024) ▪ $40 share price for 147,466 RSUs (479% premium to 90-day average closing price of $6.91 on June 28, 2024) ▪ $45 share price for 156,129 RSUs (551% premium to 90-day average closing price of $6.91 on June 28, 2024) ▪ $50 share price for 167,085 RSUs (624% premium to 90-day average closing price of $6.91 on June 28, 2024). Reconciliation of outstanding share options Set out below are summaries of options granted under all plans: Number of options Weighted average exercise price Number of options Weighted average exercise price 30 Sep 2024 30 Sep 2024 30 Jun 2024 30 Jun 2024 Outstanding as at 1 July 8,484,011 $ 43.97 8,906,839 $ 41.93 Granted during the period - $ - 34,454 $ 13.47 Forfeited during the period - $ - - $ - Exercised during the period (490,196) $ 1.53 (457,282) $ 1.89 Outstanding at the end of the period 7,993,815 $ 46.57 8,484,011 $ 43.97 Exercisable at the end of the period 2,827,692 $ 3.50 3,332,076 $ 3.01 As at 30 September 2024, the weighted average remaining contractual life of options outstanding is 6.55 years (30 June 2024: 6.56 years). As at 30 September 2024 the exercise prices associated with the options outstanding ranges from $1.53 to $75.00 (30 June 2024: $1.53 to $75.00). Reconciliation of outstanding RSUs Set out below are summaries of RSUs granted under all plans: Number of RSUs Number of RSUs 30 Sep 2024 30 Jun 2024 Outstanding as at 1 July 6,612,647 3,623,867 Granted during the period 3,313,206 3,314,794 Forfeited during the period (11,198) (221,455) Vested during the period (1,132,733) (104,559) Outstanding as at end of period 8,781,922 6,612,647 Exercisable as at end of period 241,384 - As at 30 September 2024, the weighted average remaining contractual life of RSUs outstanding is 2.74 years (30 June 2024: 2.76 years). All RSUs have a nil weighted average exercise price. As at 30 September 2024, there are 241,384 of RSUs (30 June 2024: nil) that are vested but remain unexercised. Recipients have the right to exercise their vested RSUs at any time, subject to notice provisions and holding system processing times. The Company recorded a total of $8,184,000 as share based payment expense during the three months ended 30 September 2024 ($5,840,000 for the three months ended 30 September 2023).

Related party transactions

Related party transactions	3 Months Ended
	Sep. 30, 2024
Related party transactions [abstract]
Related party transactions	Note 21. Related party transactions Parent entity Iris Energy Limited (d/b/a IREN) is the ultimate parent entity. Changes in key management personnel There have been no new appointments made to key management personnel during the period. Transactions with related parties There were no transactions with related parties during the current and previous period. Receivable from and payable to related parties There were no trade receivables from or trade payables to related parties at the current and previous reporting date. Loans from/to related parties There were no loans to or from related parties at the current and previous reporting date.

Events after the reporting peri

Events after the reporting period	3 Months Ended
	Sep. 30, 2024
Disclosure of non-adjusting events after reporting period [abstract]
Events after the reporting period	Note 22. Events after the reporting period S19j Pros sale In October 2024, a further 41,740 S19j Pro miners were sold for a total sale proceeds equal to their held for sale carrying value of $8,129,000, leaving approximately 12,300 miners which were classified as held for sale at 30 September 2024 (refer to note 11 - Assets held for sale). Insurance claim settlement On 25 October 2024, the insurance claim for the stolen mining hardware was approved by the insurers. Consequently, the settlement amount of $1,699,000 has been recorded as an income in October 2024 (refer to note 5 - Other operating expenses). ATM Facility Subsequent to 30 September 2024, the Company issued a further 16,268,604 Ordinary shares for total gross proceeds of approximately $146,265,000. No other matter or circumstance has arisen since 30 September 2024 that has significantly affected, or may significantly affect the Group's operations, the results of those operations, or the Group's state of affairs in future financial years.

Material accounting policies (P

Material accounting policies (Policies)	3 Months Ended
	Sep. 30, 2024
Disclosure of initial application of standards or interpretations [abstract]
Basis of preparation	These unaudited interim consolidated financial statements for the period ended 30 September 2024 have been prepared in accordance with IAS 34 Interim Financial Reporting , and should be read in conjunction with the Group’s last annual consolidated financial statements as at and for the year ended 30 June 2024 (‘last annual financial statements’). They do not include all of the information required for a complete set of financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”). However, selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in the Group’s financial position and performance since the last annual financial statements for the year ended 30 June 2024. The accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period, except for the policies stated below.
Functional currency	Functional currency Effective 1 July 2024, the Parent Company has changed its functional currency from AUD to USD. This change reflects the increase in USD-denominated activities and US-based investments, including capital raising in USD, capital and operational expenditures and revenues. The change has been accounted for prospectively, and prior period comparative figures have not been restated, in accordance with IAS 21.
Assets held for sale	Assets held for sale Non-current assets are classified as assets held for sale if it is highly probable that they will be recovered primarily through sale rather than through continuing use. Assets held for sale are stated at the lower of carrying amount and fair value less costs to sell. Impairment losses on initial classification as held-for-sale and subsequent gains or losses on remeasurement are recognized in profit and loss. Once classified as held for sale, property plan and equipment are no longer depreciated.
Going concern	Going concern The Group has determined there is material uncertainty that may cast significant doubt on the Group’s ability to continue as a going concern but has concluded it is appropriate to prepare the consolidated financial statements on a going concern basis which contemplates continuity of normal business activities, the realization of assets and settlement of liabilities in the ordinary course of business. The operating cash flows generated by the Group are inherently linked to several key uncertainties and risks including, but not limited to, volatility associated with the economics of Bitcoin mining and the ability of the Group to execute its business plan. For the three months ended 30 September 2024, t he Group incurred a loss after tax of $51,707,000 (30 September 2023: $5,301,000) and net operating cash outflows of $3,816,000 (30 September 2023: cash inflows of $3,875,000). As at 30 September 2024, the Group had net current assets of $12,750,000 (30 June 2024: net current assets of $401,389,000) and net assets of $1,129,548,000 (30 June 2024: net assets of $1,097,351,000). As further background, the Group owns mining hardware that is designed specifically to mine Bitcoin and its future success will depend in a large part upon the value of Bitcoin, and any sustained decline in its value could adversely affect the business and results of operations. Specifically, the revenues from Bitcoin mining operations are predominantly based upon two factors: (i) the number of Bitcoin rewards that are successfully mined and (ii) the value of Bitcoin. A decline in the market price of Bitcoin, increases in the difficulty of Bitcoin mining, changes in the regulatory environment, and/or adverse changes in other inherent risks may significantly negatively impact the Group’s operations. Due to the volatility of the Bitcoin price and the effects of the other aforementioned factors, there can be no guarantee that future mining operations will be profitable, or the Group will be able to raise capital to meet growth objectives. The strategy to mitigate these risks and uncertainties is to try to execute a business plan aimed at operational efficiency, revenue growth, improving overall mining profit, managing operating expenses and working capital requirements, maintaining potential capital expenditure optionality, and securing additional financing, as needed, through one or more debt and/or equity capital raisings. We are also pursuing a strategy to expand and diversify our revenue streams into new markets. Pursuant to that strategy, we are increasing our focus on diversification into HPC solutions, including the provision of AI cloud services. The continuing viability of the Group and its ability to continue as a going concern and meet its debts and commitments as they fall due are therefore significantly dependent upon several factors. These factors have been considered in preparing a cash flow forecast over the next 12 months to consider the going concern of the Group. The key assumptions include: • A base case scenario assuming recent Bitcoin economics including Bitcoin prices and global hashrate; • Three operational sites in British Columbia, Canada with installed nameplate capacity of 160MW; 80MW Mackenzie, 50MW Prince George and 30MW Canal Flats; • A fourth operational site at Childress, Texas with installed nameplate capacity of 200MW as at 31 October 2024 incrementally increasing to 350MW by 31 December 2024; • 1,896 GPUs in operation from 1 December 2024, with projected revenue based on existing contracted prices and recent market pricing of AI cloud services provided to customers; • Securing additional financing as required to achieve the Group’s growths objectives. The key assumptions have been stress tested using a range of Bitcoin price and global hashrate. The Group aims to maintain a degree of flexibility in both operating and capital expenditure cash flow management where it practicably makes sense, including ongoing internal cash flow monitoring and projection analysis performed to identify potential liquidity risks arising and to try to respond accordingly. As a result, the Group has concluded there is material uncertainty related to events or conditions that may cast significant doubt on the Group’s ability to continue as a going concern and, therefore, that it may be unable to realize its assets and discharge its liabilities in the normal course of business. However, the Group considers that it will be successful in the above matters and will have adequate cash reserves to enable it to meet its obligations for at least one year from the date of approval of the consolidated financial statements, and, accordingly, has prepared the consolidated financial statements on a going concern basis.
New or amended Accounting Standards and Interpretations adopted	New or amended Accounting Standards and Interpretations adopted The Group has adopted all of the new or amended IFRS and Interpretations as issued by the International Accounting Standards Board (“IASB”) that are mandatory for the current reporting period. Any new or amended Accounting Standards or Interpretations that are not yet mandatory have not been early adopted. The Group believes that the impact of recently issued standards or amendments to existing standards that are not yet effective will not have a material impact on the Group’s unaudited interim consolidated financial statements.

Other income (Tables)

Other income (Tables)	3 Months Ended
	Sep. 30, 2024
Analysis of income and expense [abstract]
Other Income	Three months ended Three months ended 30 Sep 2024 30 Sep 2023 US$'000 US$'000 ERS Revenue 1,626 - Total other income 1,626 -

Other operating expenses (Table

Other operating expenses (Tables)	3 Months Ended
	Sep. 30, 2024
Other operating expenses [Abstract]
Other Operating Expenses	Three months ended Three months ended 30 Sep 2024 30 Sep 2023 US$'000 US$'000 Insurance 2,992 1,652 Sponsorship and marketing 578 293 Loss on theft of PPE in transit 1,724 - ERS fees 98 - Charitable donations 74 141 Filing fees 22 18 Other expenses 627 269 Non-refundable sales tax (See note 15 - Provisions) 2,681 1,594 Non-refundable provincial sales tax 973 314 Total other operating expenses 9,769 4,281

Cash and cash equivalents (Tabl

Cash and cash equivalents (Tables)	3 Months Ended
	Sep. 30, 2024
Cash and cash equivalents [abstract]
Cash and Cash Equivalents	30 Sep 2024 30 Jun 2024 US$'000 US$'000 Current assets Cash at bank 98,589 304,601 Cash on deposit (cash equivalents) - 100,000 Total cash and cash equivalents 98,589 404,601

Other receivables (Tables)

Other receivables (Tables)	3 Months Ended
	Sep. 30, 2024
Other receivables [Abstract]
Other Receivables	30 Sep 2024 30 Jun 2024 US$'000 US$'000 Current assets Trade receivables 126 152 Government grant receivable 1,395 2,078 Share issuance proceeds 5,851 16,563 Interest receivable 158 1,472 ERS receivable 2,020 1,128 Other receivables 96 130 Goods and services tax receivable 14,272 7,844 Total other receivables 23,918 29,367

Financial asset at fair value_2

Financial asset at fair value through profit or loss (Tables)	3 Months Ended
	Sep. 30, 2024
Current financial assets at fair value through profit or loss [abstract]
Financial Asset at Fair Value through Profit or Loss	30 Sep 2024 30 Jun 2024 US$'000 US$'000 Current assets Electricity financial asset - 6,530 Reconciliation Reconciliation of the fair values at the beginning and end of the current and previous financial period are set out below: Opening fair value 6,530 - Additions 15,686 28,332 Financial asset realized (6,530) (18,354) Revaluation decrements (unrealized loss) - (3,448) Close-out costs (7,211) - Transfer to prepayment (8,475) - Closing fair value - 6,530

Computer hardware prepayments (

Computer hardware prepayments (Tables)	3 Months Ended
	Sep. 30, 2024
Computer hardware prepayments [Abstract]
Mining Hardware Prepayments	30 Sep 2024 30 Jun 2024 US$'000 US$'000 Non-current assets Mining hardware prepayments 122,363 239,841 High-performance computing hardware prepayments 8,135 - Total computer hardware prepayments (See note 12 - Property, plant and equipment) 130,498 239,841 Reconciliations Mining hardware prepayments High-performance computing hardware prepayments Total computer hardware prepayments (See note 12 - Property, plant and equipment) US$'000 US$'000 US$'000 Balance at 1 July 2024 239,841 - 239,841 Addition during the period 297,077 8,135 305,212 Transfer to PPE (415,798) - (415,798) Exchange differences 1,243 - 1,243 Balance at 30 September 2024 122,363 8,135 130,498

Prepayments and deposits (Table

Prepayments and deposits (Tables)	3 Months Ended
	Sep. 30, 2024
Current prepayments and current accrued income other than current contract assets [abstract]
Prepayments and deposits	30 Sep 2024 30 Jun 2024 US$'000 US$'000 Current assets Security deposits 1,160 2,101 Prepayments 24,426 9,787 25,586 11,888 Non-current assets Security deposits 22,924 17,459 Total prepayments and other assets 48,510 29,347

Assets held for sale (Tables)

Assets held for sale (Tables)	3 Months Ended
	Sep. 30, 2024
Non-Current Assets Held For Sale And Discontinued Operations [Abstract]
Disclosure of analysis of assets as held for sale	30 Sep 2024 US$’000 S19jPros Carrying value prior held for sale classification 13,278 Impairment expense (2,582) Held for sale amount at 30 September 2024 10,696

Property, plant and equipment (

Property, plant and equipment (Tables)	3 Months Ended
	Sep. 30, 2024
Disclosure of detailed information about property, plant and equipment [abstract]
Consolidated Property, Plant and Equipment	30 Sep 2024 30 Jun 2024 US$'000 US$'000 Non-current assets Land - at cost 3,938 3,601 Buildings - at cost 291,149 215,542 Less: Accumulated depreciation (16,424) (13,237) 274,725 202,305 Plant and equipment - at cost 6,256 4,856 Less: Accumulated depreciation (1,351) (1,142) 4,905 3,714 Mining hardware - at cost 521,755 177,766 Less: Accumulated depreciation (16,166) (54,892) Less: Accumulated impairment (6,941) (25,605) 498,648 97,269 HPC hardware – at cost 33,678 33,315 Less: Accumulated depreciation (3,525) (1,779) 30,153 31,536 Development assets - at cost 153,625 102,946 Total property, plant and equipment 965,994 441,371 Gain on disposal of property, plant and equipment Three months ended Three months ended 30 Sep 2024 30 Sep 2023 US$'000 US$'000 Gain on Warranty 920 - Gain/(loss) on disposal of mining hardware (82) 10 Total gain on disposal of property, plant and equipment 838 10
Reconciliations of Written Down Values of Property, Plant and Equipment	Reconciliations of the written down values at the beginning and end of the current period are set out below: Land Buildings Plant and equipment Mining hardware HPC hardware Development assets Total Consolidated US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Balance at 1 July 2024 3,601 202,305 3,714 97,269 31,536 102,946 441,371 Additions 322 1,244 1,361 59,069 - 123,905 185,901 Transfer from computer hardware prepayment - - - 415,798 - - 415,798 Disposals - - - (24,553) - - (24,553) Exchange differences 15 939 28 202 334 91 1,609 Impairment - - - (6,942) - - (6,942) Transfers in/(out) - 73,317 - - - (73,317) - Transfer to asset held for sale - - - (13,278) - - (13,278) Depreciation expense - (3,080) (198) (28,917) (1,717) - (33,912) Balance at 30 September 2024 3,938 274,725 4,905 498,648 30,153 153,625 965,994

Impairment of assets (Tables)

Impairment of assets (Tables)	3 Months Ended
	Sep. 30, 2024
Disclosure Of Impairment Of Assets [Abstract]
Impairment of assets	Three months ended Three months ended 30 Sep 2024 30 Sep 2023 US$'000 US$'000 Impairment of assets subsequently classified as held for sale 6,836 - Impairment of revaluation of assets classified as held for sale 2,582 - Impairment of mining hardware 106 - Total impairment expense 9,524 -

Trade payables and lease liab_2

Trade payables and lease liabilities (Tables)	3 Months Ended
	Sep. 30, 2024
Presentation of leases for lessee [abstract]
Trade payables and lease liabilities	30 Sep 2024 30 Jun 2024 US$'000 US$'000 Current liabilities Trade and other payables 120,757 32,119 Lease liability 368 214 Total current liabilities 121,125 32,333 Non-current liabilities Lease liability 2,232 1,441 Total trade payables and lease liabilities 123,357 33,774

Provisions (Tables)

Provisions (Tables)	3 Months Ended
	Sep. 30, 2024
Provisions [abstract]
Provisions	30 Sep 2024 30 Jun 2024 US$'000 US$'000 Current liabilities Non-refundable sales tax and other provisions 16,196 13,375

Issued capital (Tables)

Issued capital (Tables)	3 Months Ended
	Sep. 30, 2024
Disclosure of classes of share capital [abstract]
Issued Capital	Consolidated 30 Sep 2024 30 Jun 2024 30 Sep 2024 30 Jun 2024 Shares Shares US$'000 US$'000 Ordinary shares - fully paid and unrestricted 197,129,482 186,367,686 1,843,183 1,764,289
Movements in Ordinary Share Capital	Movements in ordinary share capital Details Date Shares US$'000 Opening balance as at 1 July, 2024 186,367,686 1,764,289 Shares issued under the ATM Facility 9,138,867 75,502 Share based payment - Vested shares 1,622,929 5,749 Capital raise costs - (2,357) Closing balance as at 30 September, 2024 197,129,482 1,843,183

Earnings per share (Tables)

Earnings per share (Tables)	3 Months Ended
	Sep. 30, 2024
Earnings per share [abstract]
Earnings Per Share Basic and Diluted	Three months ended Three months ended 30 Sep 2024 30 Sep 2023 US$'000 US$'000 Loss after income tax (51,707) (5,301) Number Number Weighted average number of ordinary shares used in calculating basic earnings per share 189,262,447 65,279,263 Weighted average number of ordinary shares used in calculating diluted earnings per share 189,262,447 65,279,263 US$ US$ Basic earnings per share (0.27) (0.08) Diluted earnings per share (0.27) (0.08)

Commitments (Tables)

Commitments (Tables)	3 Months Ended
	Sep. 30, 2024
Commitments [Abstract]
Maturity of Committed Amount Payable	As at 30 September 2024, total Group commitments are set out in the table below (excludes shipping and taxes). 30 Sep 2024 30 Jun 2024 US$'000 US$'000 Mining Hardware Amounts payable within 12 months of balance date 46,217 116,982 Amounts payable after 12 months of balance date - - Other Commitments Amounts payable within 12 months of balance date 78,797 77,659 Amounts payable after 12 months of balance date 650 - Total Commitments 125,664 194,641

Share-based payments (Tables)

Share-based payments (Tables)	3 Months Ended
	Sep. 30, 2024
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Reconciliation of Outstanding Share Options	Set out below are summaries of options granted under all plans: Number of options Weighted average exercise price Number of options Weighted average exercise price 30 Sep 2024 30 Sep 2024 30 Jun 2024 30 Jun 2024 Outstanding as at 1 July 8,484,011 $ 43.97 8,906,839 $ 41.93 Granted during the period - $ - 34,454 $ 13.47 Forfeited during the period - $ - - $ - Exercised during the period (490,196) $ 1.53 (457,282) $ 1.89 Outstanding at the end of the period 7,993,815 $ 46.57 8,484,011 $ 43.97 Exercisable at the end of the period 2,827,692 $ 3.50 3,332,076 $ 3.01
Reconciliation of Outstanding RSUs	Set out below are summaries of RSUs granted under all plans: Number of RSUs Number of RSUs 30 Sep 2024 30 Jun 2024 Outstanding as at 1 July 6,612,647 3,623,867 Granted during the period 3,313,206 3,314,794 Forfeited during the period (11,198) (221,455) Vested during the period (1,132,733) (104,559) Outstanding as at end of period 8,781,922 6,612,647 Exercisable as at end of period 241,384 -

Material accounting policies (D

Material accounting policies (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024
Going concern [Abstract]
Loss after income tax	$ (51,707)	$ (5,301)
Cash flows from (used in) operating activities	(3,816)	$ 3,875
Current assets	12,750		$ 401,389
Net assets	$ 1,129,548		$ 1,097,351
Minimum
Going concern [Abstract]
Period to adequate cash reserves to enable to meet its obligations from date of approval	1 year

Other income (Details)

Other income (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Analysis of income and expense [abstract]
ERS Revenue	$ 1,626	$ 0
Total other income	$ 1,626	$ 0

Other operating expenses - Othe

Other operating expenses - Other operating expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Other operating expenses [Abstract]
Insurance	$ 2,992	$ 1,652
Sponsorship and marketing	578	293
Loss on theft of PPE in transit	1,724	0
ERS fees	98	0
Charitable donations	74	141
Filing fees	22	18
Other expenses	627	269
Non-refundable sales tax (See note 15 - Provisions)	2,681	1,594
Non-refundable provincial sales tax	973	314
Total other operating expenses	$ 9,769	$ 4,281

Other operating expenses - Narr

Other operating expenses - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended
	Jul. 31, 2024	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment		$ 965,994,000		$ 441,371,000
Loss on theft of PPE in transit		1,724,000	$ 0
Non-deductible amount		25,000
Mining hardware
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	$ 1,724,000	$ 498,648,000		$ 97,269,000
Loss on theft of PPE in transit	$ 1,724,000

Cash and cash equivalents (Deta

Cash and cash equivalents (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Jun. 30, 2023
Current assets
Cash at bank	$ 98,589	$ 304,601
Cash on deposit (cash equivalents)	0	100,000
Total cash and cash equivalents	$ 98,589	$ 404,601	$ 64,172	$ 68,894

Other receivables (Details)

Other receivables (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024
Current assets [Abstract]
Trade receivables	$ 126	$ 152
Government grant receivable	1,395	2,078
Share issuance proceeds	5,851	16,563
Interest receivable	158	1,472
ERS receivable	2,020	1,128
Other receivables	96	130
Goods and services tax receivable	14,272	7,844
Total other receivables	$ 23,918	$ 29,367

Financial asset at fair value_3

Financial asset at fair value through profit or loss (Details) - USD ($) $ in Thousands		1 Months Ended		3 Months Ended		12 Months Ended
	Aug. 23, 2024	Jul. 31, 2024	Jun. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024
Current assets
Electricity financial asset			$ 6,530	$ 0		$ 6,530
Reconciliation of the fair values at the beginning and end of the current and previous financial period are set out below:
Opening fair value		$ 6,530		6,530	$ 0	0
Additions				15,686		28,332
Financial asset realized				(6,530)		(18,354)
Revaluation decrements (unrealized loss)			(3,448)	0		(3,448)
Close-out costs				(7,211)		0
Transfer to prepayment				(8,475)		0
Closing fair value			$ 6,530	0		$ 6,530
Realized gain/(loss) on financial asset		$ (452)		(4,215)	$ 3,018
Liquidation payment	$ 7,211			$ 7,211

Computer hardware prepayments -

Computer hardware prepayments - Schedule of prepayments (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2024 USD ($)
Computer Hardware Prepayments [Line Items]
Computer hardware prepayments	$ 130,498
Non-current assets
Beginning balance	239,841
Addition during the period	305,212
Transfer to PPE	(415,798)
Exchange differences	1,243
Ending balance	130,498
Mining hardware prepayments
Computer Hardware Prepayments [Line Items]
Computer hardware prepayments	122,363
Non-current assets
Beginning balance	239,841
Addition during the period	297,077
Transfer to PPE	(415,798)
Exchange differences	1,243
Ending balance	122,363
HPC hardware
Computer Hardware Prepayments [Line Items]
Computer hardware prepayments	8,135
Non-current assets
Beginning balance	0
Addition during the period	8,135
Transfer to PPE	0
Exchange differences	0
Ending balance	$ 8,135

Prepayments and deposits (Detai

Prepayments and deposits (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024
Current assets
Security deposits	$ 1,160	$ 2,101
Prepayments	24,426	9,787
Prepayments and deposits	25,586	11,888
Non-current assets
Security deposits	22,924	17,459
Total prepayments and other assets	$ 48,510	$ 29,347

Assets held for sale (Details)

Assets held for sale (Details) $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended
	Oct. 31, 2024 USD ($) miner	Nov. 25, 2024 miner	Sep. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			$ 965,994	$ 441,371
Impairment expense			(2,582)
Assets held for sale			10,696	$ 0	$ 0
Mining Assets, S19jPro
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment			$ 13,278
Mining Assets, S19jPro | Subsequent events
Disclosure of detailed information about property, plant and equipment [line items]
Assets held for sale	$ 8,129
Number of miners classified as held for sale | miner	41,740	41,700
Number of miners | miner	12,300	12,300

Property, plant and equipment -

Property, plant and equipment - Consolidated (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jul. 31, 2024	Jun. 30, 2024
Non-current assets [Abstract]
Property, plant and equipment	$ 965,994		$ 441,371
Land
Non-current assets [Abstract]
Property, plant and equipment	3,938		3,601
Land | At Cost
Non-current assets [Abstract]
Property, plant and equipment	3,938		3,601
Buildings
Non-current assets [Abstract]
Property, plant and equipment	274,725		202,305
Buildings | At Cost
Non-current assets [Abstract]
Property, plant and equipment	291,149		215,542
Buildings | Accumulated Depreciation
Non-current assets [Abstract]
Property, plant and equipment	(16,424)		(13,237)
Plant and equipment
Non-current assets [Abstract]
Property, plant and equipment	4,905		3,714
Plant and equipment | At Cost
Non-current assets [Abstract]
Property, plant and equipment	6,256		4,856
Plant and equipment | Accumulated Depreciation
Non-current assets [Abstract]
Property, plant and equipment	(1,351)		(1,142)
Mining hardware
Non-current assets [Abstract]
Property, plant and equipment	498,648	$ 1,724	97,269
Mining hardware | At Cost
Non-current assets [Abstract]
Property, plant and equipment	521,755		177,766
Mining hardware | Accumulated Depreciation
Non-current assets [Abstract]
Property, plant and equipment	(16,166)		(54,892)
Mining hardware | Accumulated Impairment
Non-current assets [Abstract]
Property, plant and equipment	(6,941)		(25,605)
HPC hardware
Non-current assets [Abstract]
Property, plant and equipment	30,153		31,536
HPC hardware | At Cost
Non-current assets [Abstract]
Property, plant and equipment	33,678		33,315
HPC hardware | Accumulated Depreciation
Non-current assets [Abstract]
Property, plant and equipment	(3,525)		(1,779)
Development assets
Non-current assets [Abstract]
Property, plant and equipment	153,625		102,946
Development assets | At Cost
Non-current assets [Abstract]
Property, plant and equipment	$ 153,625		$ 102,946

Property, plant and equipment_2

Property, plant and equipment - Reconciliations of written down values (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2024 USD ($)
Reconciliations of the written down values [Abstract]
Property, plant and equipment, beginning balance	$ 441,371
Additions	185,901
Transfer from computer hardware prepayment	415,798
Disposals	(24,553)
Exchange differences	1,609
Impairment	(6,942)
Transfers in/(out)	0
Transfer to asset held for sale	(13,278)
Depreciation expense	(33,912)
Property, plant and equipment, ending balance	965,994
Land
Reconciliations of the written down values [Abstract]
Property, plant and equipment, beginning balance	3,601
Additions	322
Transfer from computer hardware prepayment	0
Disposals	0
Exchange differences	15
Impairment	0
Transfers in/(out)	0
Transfer to asset held for sale	0
Depreciation expense	0
Property, plant and equipment, ending balance	3,938
Buildings
Reconciliations of the written down values [Abstract]
Property, plant and equipment, beginning balance	202,305
Additions	1,244
Transfer from computer hardware prepayment	0
Disposals	0
Exchange differences	939
Impairment	0
Transfers in/(out)	73,317
Transfer to asset held for sale	0
Depreciation expense	(3,080)
Property, plant and equipment, ending balance	274,725
Plant and equipment
Reconciliations of the written down values [Abstract]
Property, plant and equipment, beginning balance	3,714
Additions	1,361
Transfer from computer hardware prepayment	0
Disposals	0
Exchange differences	28
Impairment	0
Transfers in/(out)	0
Transfer to asset held for sale	0
Depreciation expense	(198)
Property, plant and equipment, ending balance	4,905
Mining hardware
Reconciliations of the written down values [Abstract]
Property, plant and equipment, beginning balance	97,269
Additions	59,069
Transfer from computer hardware prepayment	415,798
Disposals	(24,553)
Exchange differences	202
Impairment	(6,942)
Transfers in/(out)	0
Transfer to asset held for sale	(13,278)
Depreciation expense	(28,917)
Property, plant and equipment, ending balance	498,648
HPC hardware
Reconciliations of the written down values [Abstract]
Property, plant and equipment, beginning balance	31,536
Additions	0
Transfer from computer hardware prepayment	0
Disposals	0
Exchange differences	334
Impairment	0
Transfers in/(out)	0
Transfer to asset held for sale	0
Depreciation expense	(1,717)
Property, plant and equipment, ending balance	30,153
Development assets
Reconciliations of the written down values [Abstract]
Property, plant and equipment, beginning balance	102,946
Additions	123,905
Transfer from computer hardware prepayment	0
Disposals	0
Exchange differences	91
Impairment	0
Transfers in/(out)	(73,317)
Transfer to asset held for sale	0
Depreciation expense	0
Property, plant and equipment, ending balance	$ 153,625

Property, plant and equipment_3

Property, plant and equipment - Narrative (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation, property, plant and equipment	$ 33,912
Depreciation, right-of-use assets	97
Additions	185,901
Disposals, property, plant and equipment	24,553
Gain on warranty	920	$ 0
Mining hardware
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation, property, plant and equipment	28,917
Depreciation of disposals	15,330
Additions	59,069
Disposals, property, plant and equipment	$ 24,553
Mining Assets, Bitmain T21 Miners
Disclosure of detailed information about property, plant and equipment [line items]
Hashrate operating capacity of Bitmain miners	1.8
Additions	$ 25,204
Disposals, property, plant and equipment	24,284
Gain on warranty	$ 920

Property, plant and equipment_4

Property, plant and equipment - Disposal of property, plant and equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Disclosure of detailed information about property, plant and equipment [line items]
Gain on Warranty	$ 920	$ 0
Gain on disposal of property, plant and equipment	838	10
Mining hardware
Disclosure of detailed information about property, plant and equipment [line items]
Gain on disposal of property, plant and equipment	$ (82)	$ 10

Impairment of assets (Details)

Impairment of assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Disclosure of impairment loss and reversal of impairment loss [line items]
Total impairment expense	$ 9,524	$ 0
Impairment of assets subsequently classified as held for sale
Disclosure of impairment loss and reversal of impairment loss [line items]
Total impairment expense	6,836	0
Impairment of revaluation of assets classified as held for sale
Disclosure of impairment loss and reversal of impairment loss [line items]
Total impairment expense	2,582	0
Mining hardware | Impairment of mining hardware
Disclosure of impairment loss and reversal of impairment loss [line items]
Total impairment expense	$ 106	$ 0

Trade payables and lease liab_3

Trade payables and lease liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024
Current liabilities
Trade and other payables	$ 120,757	$ 32,119
Lease liability	368	214
Total current liabilities	121,125	32,333
Non-current liabilities
Lease liability	2,232	1,441
Total trade payables and lease liabilities	$ 123,357	$ 33,774
Prince George, British Columbia, Canada | Lease liabilities
Non-current liabilities
Lease term (in years)	30 years
Sydney, Australia | Lease liabilities
Non-current liabilities
Lease term (in years)	5 years
Vancouver, British Columbia, Canada | Lease liabilities
Non-current liabilities
Lease term (in years)	5 years

Provisions (Details)

Provisions (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024
Current liabilities [Abstract]
Non-refundable sales tax and other provisions	$ 16,196	$ 13,375
CANADA
Current liabilities [Abstract]
Percentage of GST required to remit	5%
Percentage of GST on exported services

Issued capital - Ordinary share

Issued capital - Ordinary shares (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024
Issued capital [abstract]
Issued capital	$ 1,843,183	$ 1,764,289
Issued capital
Issued capital [abstract]
Number of shares outstanding (in shares)	197,129,482	186,367,686
Issued capital	$ 1,843,183	$ 1,764,289

Issued capital - Movements in O

Issued capital - Movements in Ordinary Share Capital (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2024 USD ($) shares
Issued capital [Abstract]
Opening balance	$ 1,764,289
Closing balance	$ 1,843,183
Issued capital
Number of shares [Abstract]
Opening balance (in shares) | shares	186,367,686
Shares issued under the ATM Facility (in shares) | shares	9,138,867
Share based payment - Vested shares (in shares) | shares	1,622,929
Capital raise costs (in shares) | shares	0
Closing balance (in shares) | shares	197,129,482
Issued capital [Abstract]
Opening balance	$ 1,764,289
Shares issued under the ATM Facility	75,502
Share based payment - Vested shares	5,749
Capital raise costs	(2,357)
Closing balance	$ 1,843,183

Issued capital - Narrative (Det

Issued capital - Narrative (Details) - USD ($)	2 Months Ended	3 Months Ended	12 Months Ended
	Nov. 25, 2024	Sep. 30, 2024	Jun. 30, 2024	May 15, 2024	Mar. 21, 2024	Sep. 13, 2023
At-the-Market Offerings
Disclosure of classes of share capital [line items]
Shares issued under the ATM Facility (in shares)		117,202,735
Shares issued under the ATM Facility		$ 846,939,000
At-the-Market Offerings | Subsequent events
Disclosure of classes of share capital [line items]
Shares issued under the ATM Facility (in shares)	16,268,604
Shares issued under the ATM Facility	$ 146,265,000
Ordinary shares
Disclosure of classes of share capital [line items]
Number of restricted shares issued (in shares)		1,006,572	1,496,768
Number of shares outstanding (in shares)		198,136,054	187,864,454
B. Riley Principal Capital II, LLC | Ordinary shares | At-the-Market Offerings
Disclosure of classes of share capital [line items]
Maximum value of shares to be issued under share sale option agreement (in shares)				$ 500,000,000		$ 300,000,000
Term of option agreement to sell ordinary shares		36 months
Maximum value of shares to be issued under share sale option agreement, additional amount					$ 200,000,000
B. Riley Principal Capital II, LLC | Ordinary shares | At-the-Market Offerings | Maximum
Disclosure of classes of share capital [line items]
Maximum value of shares to be issued under share sale option agreement (in shares)						$ 300,000,000

Earnings per share (Details)

Earnings per share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Earnings per share [abstract]
Loss after income tax	$ (51,707)	$ (5,301)
Weighted average number of ordinary shares used in calculating basic earnings per share (in shares)	189,262,447	65,279,263
Weighted average number of ordinary shares used in calculating diluted earnings per share (in shares)	189,262,447	65,279,263
Basic earnings per share (in dollars per share)	$ (0.0027)	$ (0.0008)
Diluted earnings per share (in dollars per share)	$ (0.0027)	$ (0.0008)

Commitments - Narrative (Detail

Commitments - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024
Commitments [Abstract]
Contractual capital commitments	$ 125,664	$ 194,641

Commitments - Committed Amounts

Commitments - Committed Amounts Payable (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024
Committed Amounts Payable [Abstract]
Contractual capital commitments	$ 125,664	$ 194,641
Amounts payable within 12 months of balance date
Committed Amounts Payable [Abstract]
Contractual capital commitments		194,641
Amounts payable within 12 months of balance date | Other Commitments
Committed Amounts Payable [Abstract]
Contractual capital commitments	78,797	77,659
Amounts payable within 12 months of balance date | Mining hardware
Committed Amounts Payable [Abstract]
Contractual capital commitments	46,217	116,982
Amounts payable after 12 months of balance date | Other Commitments
Committed Amounts Payable [Abstract]
Contractual capital commitments	650	0
Amounts payable after 12 months of balance date | Mining hardware
Committed Amounts Payable [Abstract]
Contractual capital commitments	$ 0	$ 0

Share-based payments - RSUs Nar

Share-based payments - RSUs Narrative (Details) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2024 USD ($) shares tranche $ / shares	Sep. 30, 2023 USD ($)	Jun. 30, 2024 shares $ / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense from share-based payment transactions | $	$ 8,184	$ 5,840
$75 Exercise Price Options
Disclosure of terms and conditions of share-based payment arrangement [line items]
Granted during the period (in dollars per share) | $ / shares			$ 75
2023 Long-Term Incentive Plan Restricted Stock Units | Tranche One | Time-based Vesting Conditions
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of RSUs issued (in shares)	151,594
Vesting period (in years)	1 year
2023 Long-Term Incentive Plan Restricted Stock Units | Tranche Two | Time-based Vesting Conditions
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of RSUs issued (in shares)	151,594
Vesting period (in years)	2 years
2023 Long-Term Incentive Plan Restricted Stock Units | Tranche Three | Performance-based Vesting Conditions
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of RSUs issued (in shares)	279,425
Vesting period (in years)	3 years
2023 Long-Term Incentive Plan Restricted Stock Units | Key Management Personnel
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of RSUs issued (in shares)	582,613
2023 Long-Term Incentive Plan Restricted Stock Units | Non-Executive Director
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period (in years)	1 year
Number of RSUs vested (in shares)	53,811
2023 Long-Term Incentive Plan Restricted Stock Units | Co-Founder and Co-CEO
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of RSUs issued (in shares)	1,338,391
2023 Long-Term Incentive Plan Restricted Stock Units | Co-Founder and Co-CEO | Performance-based Vesting Conditions
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of RSUs issued (in shares)	984,094
Number of tranches | tranche	7
Number of trading days	30 days
2023 Long-Term Incentive Plan Restricted Stock Units | Co-Founder and Co-CEO | Tranche One
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of RSUs issued (in shares)	118,099
Vesting period (in years)	1 year
2023 Long-Term Incentive Plan Restricted Stock Units | Co-Founder and Co-CEO | Tranche One | Performance-based Vesting Conditions
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of RSUs issued (in shares)	116,857
Number of trading days	90 days
Share price (in dollars per share) | $ / shares	$ 20
Share premium (as percent)	190%
Average closing share price (in dollars per share) | $ / shares	$ 6.91
2023 Long-Term Incentive Plan Restricted Stock Units | Co-Founder and Co-CEO | Tranche Two
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of RSUs issued (in shares)	118,099
Vesting period (in years)	2 years
2023 Long-Term Incentive Plan Restricted Stock Units | Co-Founder and Co-CEO | Tranche Two | Performance-based Vesting Conditions
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of RSUs issued (in shares)	124,359
Number of trading days	90 days
Share price (in dollars per share) | $ / shares	$ 25
Share premium (as percent)	262%
Average closing share price (in dollars per share) | $ / shares	$ 6.91
2023 Long-Term Incentive Plan Restricted Stock Units | Co-Founder and Co-CEO | Tranche Three
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of RSUs issued (in shares)	118,099
Vesting period (in years)	3 years
2023 Long-Term Incentive Plan Restricted Stock Units | Co-Founder and Co-CEO | Tranche Three | Performance-based Vesting Conditions
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of RSUs issued (in shares)	131,970
Number of trading days	90 days
Share price (in dollars per share) | $ / shares	$ 30
Share premium (as percent)	334%
Average closing share price (in dollars per share) | $ / shares	$ 6.91
2023 Long-Term Incentive Plan Restricted Stock Units | Co-Founder and Co-CEO | Tranche Four | Performance-based Vesting Conditions
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of RSUs issued (in shares)	140,228
Number of trading days	90 days
Share price (in dollars per share) | $ / shares	$ 35
Share premium (as percent)	407%
Average closing share price (in dollars per share) | $ / shares	$ 6.91
2023 Long-Term Incentive Plan Restricted Stock Units | Co-Founder and Co-CEO | Tranche Five | Performance-based Vesting Conditions
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of RSUs issued (in shares)	147,466
Number of trading days	90 days
Share price (in dollars per share) | $ / shares	$ 40
Share premium (as percent)	479%
Average closing share price (in dollars per share) | $ / shares	$ 6.91
2023 Long-Term Incentive Plan Restricted Stock Units | Co-Founder and Co-CEO | Tranche Six | Performance-based Vesting Conditions
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of RSUs issued (in shares)	156,129
Number of trading days	90 days
Share price (in dollars per share) | $ / shares	$ 45
Share premium (as percent)	551%
Average closing share price (in dollars per share) | $ / shares	$ 6.91
2023 Long-Term Incentive Plan Restricted Stock Units | Co-Founder and Co-CEO | Tranche Seven | Performance-based Vesting Conditions
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of RSUs issued (in shares)	167,085
Number of trading days	90 days
Share price (in dollars per share) | $ / shares	$ 50
Share premium (as percent)	624%
Average closing share price (in dollars per share) | $ / shares	$ 6.91
Restricted Share Units
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of RSUs vested (in shares)	1,132,733		104,559
Weighted average remaining contractual life of RSUs outstanding (in years)	2 years 8 months 26 days		2 years 9 months 3 days
Weighted average exercise price of other equity instruments outstanding in share-based payment arrangement (in dollars per share) | $ / shares	$ 0
Number of other equity instruments exercisable in share-based payment arrangement (in shares)	241,384		0

Share-based payments - Reconcil

Share-based payments - Reconciliation of Outstanding Share Options (Details) - Share Options	3 Months Ended	12 Months Ended
	Sep. 30, 2024 shares $ / shares	Jun. 30, 2024 shares $ / shares
Number of Options [Abstract]
Outstanding beginning of period (in shares) | shares	8,484,011	8,906,839
Granted during the period (in shares) | shares	0	34,454
Forfeited during the period (in shares) | shares	0	0
Exercised during the period (in shares) | shares	(490,196)	(457,282)
Outstanding end of period (in shares) | shares	7,993,815	8,484,011
Exercisable at end of period (in shares) | shares	2,827,692	3,332,076
Weighted Average Exercise Price [Abstract]
Outstanding beginning of period (in dollars per share) | $ / shares	$ 43.97	$ 41.93
Granted during the period (in dollars per share) | $ / shares	0	13.47
Forfeited during the year (in dollars per share) | $ / shares	0	0
Exercised during the period (in dollars per share) | $ / shares	1.53	1.89
Outstanding end of period (in dollars per share) | $ / shares	46.57	43.97
Exercisable at end of period (in dollars per share) | $ / shares	$ 3.50	$ 3.01

Share-based payments - Share Op

Share-based payments - Share Options Narrative (Details) - Share Options - $ / shares	3 Months Ended	12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Jun. 30, 2023
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average remaining contractual life (in years)	6 years 6 months 18 days	6 years 6 months 21 days
Weighted average exercise price of share options outstanding in share-based payment arrangement (in dollars per share)	$ 46.57	$ 43.97	$ 41.93
Minimum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price of share options outstanding in share-based payment arrangement (in dollars per share)	1.53	1.53
Maximum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Weighted average exercise price of share options outstanding in share-based payment arrangement (in dollars per share)	$ 75	$ 75

Share-based payments - Reconc_2

Share-based payments - Reconciliation of Outstanding RSUs (Details) - Restricted Share Units - shares	3 Months Ended	12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024
Number of RSUs [Abstract]
Outstanding at beginning of period (in shares)	6,612,647	3,623,867
Granted during the period (in shares)	3,313,206	3,314,794
Forfeited during the year (in shares)	(11,198)	(221,455)
Exercised during the period (in shares)	(1,132,733)	(104,559)
Outstanding at end of period (in shares)	8,781,922	6,612,647
Exercisable as at end of period (in shares)	241,384	0

Related party transactions (Det

Related party transactions (Details) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024
Outstanding balances for related party transactions [abstract]
Transactions with related parties	$ 0	$ 0
Receivables due from related parties	0	0
Payables to related parties	0	0
Loans from related parties	0	0
Amounts payable, related party transactions	$ 0	$ 0

Events after the reporting pe_2

Events after the reporting period (Details) $ in Thousands		1 Months Ended	2 Months Ended	3 Months Ended
	Oct. 25, 2024 USD ($)	Oct. 31, 2024 USD ($) miner	Nov. 25, 2024 USD ($) miner shares	Sep. 30, 2024 USD ($) shares	Jun. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)
Disclosure of non-adjusting events after reporting period [line items]
Assets held for sale				$ 10,696	$ 0	$ 0
At-the-Market Offerings
Disclosure of non-adjusting events after reporting period [line items]
Shares issued under the ATM Facility (in shares) | shares				117,202,735
Shares issued under the ATM Facility				$ 846,939
Subsequent events
Disclosure of non-adjusting events after reporting period [line items]
Income from reimbursements under insurance policies	$ 1,699
Subsequent events | At-the-Market Offerings
Disclosure of non-adjusting events after reporting period [line items]
Shares issued under the ATM Facility (in shares) | shares			16,268,604
Shares issued under the ATM Facility			$ 146,265
Subsequent events | Mining Assets, S19jPro
Disclosure of non-adjusting events after reporting period [line items]
Number of miners classified as held for sale | miner		41,740	41,700
Assets held for sale		$ 8,129
Number of miners | miner		12,300	12,300