John Gilbert Keynote – The Convergence of Connectivity and ProptechApril 29, 2023
Reimagining Constructions: The Advantages of MicrogridsApril 29, 2023
We like to explore varied investment opportunities, as varied as our family members and family speakers.
We explore bitcoin mining, data infrastructure and renewable energy, with our guest Daniel Roberts, Co Founder of Iris Energy.
Bitcoin’s appeal as a scarce monetary asset is growing amidst a backdrop of central bank money printing. Despite annual revenues in excess of US$5bn p.a., bitcoin mining remains misunderstood. The business model is highly profitable and asymmetric – capturing upside in the growth of bitcoin with reduced volatility.
We will learn how competitive advantage in bitcoin mining is now driven by the ability to source, manage and develop large-scale, low-cost renewable energy and data center infrastructure as well as access institutional capital markets.
A brief look into Iris Energy: Iris Energy is a data infrastructure business, focused on a stable way to monetize bitcoin, powered by renewable energy. Backed by a successful multi-disciplinary team with complementary skills and experience building large-scale businesses, Iris Energy is uniquely placed to capitalize on the impending race for renewable energy.
About Iris Energy:
Iris Energy currently has 9MW installed and operating at its first data center site in British Columbia, Canada, generating US$3.6m in annualized run rate revenue and cashflow positive operations. Expansion is currently underway to 30MW which is forecast to generate ~US$10m in annualized EBITDA upon completion. The site has 130MW+ potential and is powered by renewable hydro electricity.
Iris Energy also has a 750MW near-term growth pipeline across Western Canada, with 14 sites identified and three in advanced stage of due diligence. Western Canada is attractive given the stable political environment, access to low-cost renewable energy and favorable climate.