non-cash impairment charges
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Iris Energy, a Bitcoin miner, reported a quarterly net loss of $144 million
It is reported that Iris Energy, a Bitcoin miner, reported a quarterly net loss of $144 million and revenue of $13.8 million as of December last year. The loss was mainly due to non-cash impairment charges of US $105.2 million related to its equipment financing, and said that its Bitcoin mining decreased in the quarter ended December. The revenue was higher than the average estimate of $13.3 million by FactSet analysts. After purchasing 4.4EH/s machines with Bitland’s advance payment, it now plans to increase its hash rate to 5.5EH/s when…
