Company Directory - Iris Energy
Company Details - Iris Energy
Iris Energy
WebsiteIris Energy is a renewable energy focused bitcoin mining company that harnesses clean energy sources to power its mining operations, aiming to contribute to a sustainable future while capitalizing on the growing demand for cryptocurrency.
CCI Score
CCI Score: Iris Energy
40.46
-0.03%
Latest Event
Iris Energy Expansion and Sustainable Energy Commitment
Iris Energy is expanding its Bitcoin mining capacity and AI Cloud Services operations while leveraging its 100% renewable energy foundation. The company’s growth follows a pro-crypto policy environment during the Trump administration, supporting sustainable practices and innovative technology investments.
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DISSENTER
Iris Energy is currently rated as a Dissenter.
Latest Events
- NOV172024
Iris Energy is expanding its Bitcoin mining capacity and AI Cloud Services operations while leveraging its 100% renewable energy foundation. The company’s growth follows a pro-crypto policy environment during the Trump administration, supporting sustainable practices and innovative technology investments.
+40
Business Practices and Ethical Responsibility
April 2
Iris Energy's commitment to using 100% renewable energy for its Bitcoin mining operations and its expansion into AI Cloud Services highlight a strong emphasis on sustainable business practices and ethical responsibility, which supports broader efforts towards environmental and social sustainability.
+30
Technology and Services Impact
April 2
The expanded investment in next-generation GPUs and AI Cloud Services infrastructure underscores Iris Energy's positive impact on technology and services, fostering innovation and enhanced digital infrastructure while capitalizing on the current market opportunities.
- MAY152024
Iris Energy issued its 2023 Modern Slavery Statement detailing measures to assess and mitigate modern slavery risks across its operations and supply chains. The document outlines efforts such as fair labor practices, wage assessments to ensure employees earn above minimum wage, supplier assurance protocols, and plans to enhance ESG training and policies.
+50
Labor Relations and Human Rights Practices
April 2
The Modern Slavery Statement details proactive measures within Iris Energy’s direct operations, including ensuring fair wages, adherence to anti-discrimination practices, and strong whistleblower protections. Although it notes a shortfall in formal modern slavery training, the efforts represent a positive initiative for labor rights and human dignity.
+40
Supply Chain Ethics
April 2
The statement demonstrates a proactive approach in managing supply chain risks associated with modern slavery. By seeking written assurances from contractors and finalizing an enhanced ESG policy with specific focus on supplier practices, Iris Energy is taking important steps, despite the inherent risks present in global supply chains.
- MAY152024
Iris Energy Limited published its Modern Slavery Statement for the financial year ended June 30, 2023. The document details the company’s assessment of modern slavery risks in its operations and supply chains, outlines measures taken to ensure fair labor practices (such as paying above minimum wage and conducting regular compensation reviews), and describes ongoing initiatives to strengthen supplier oversight and develop targeted training on modern slavery.
+25
Labor Relations and Human Rights Practices
April 2
The statement outlines robust internal labor practices including fair recruitment, regular compensation reviews ensuring wages exceed the minimum, and ethical treatment of workers. These measures support fair labor rights and align with anti-fascist and progressive labor standards, warranting a positive score.
+20
Supply Chain Ethics
April 2
The document acknowledges inherent modern slavery risks within complex supply chains and details steps taken, such as seeking written assurances from contractors and planning a Supplier Code of Conduct. While these actions represent positive progress, further proactive measures are anticipated, resulting in a modest positive score.
- NOV102023
Iris Energy, led by co-CEO Daniel Roberts, is employing a pioneering model that leverages 100% renewable energy for Bitcoin mining operations. By situating its facilities near renewable energy sources in areas like West Texas, the company not only maximizes the use of idle renewable capacity but also provides a dynamic demand response that helps stabilize local energy grids. In addition, the firm is expanding its infrastructure to support high power-density applications such as generative AI, demonstrating an innovative integration of renewable energy with digital technology.
+80
Business Practices and Ethical Responsibility
April 2
Iris Energy’s commitment to utilizing 100% renewable energy and its strategic location choices to optimize underutilized renewable capacity and stabilize local energy grids strongly reflect ethical business practices. This approach not only minimizes environmental impact but also supports community energy resilience, aligning well with progressive and ethical business standards.
+70
Technology and Services Impact
April 2
The deployment of advanced technology to allow rapid demand response—where miners can be automatically put to sleep—demonstrates a strong, forward-thinking use of digital infrastructure in service of renewable energy optimization and grid resilience. This innovative integration of technology within energy management contributes positively to community stability and sustainable progress.
- AUG152023
Iris Energy received $2.3 million in power credits for voluntarily reducing energy consumption during peak times at its Childress site, demonstrating its commitment to sustainability. The company is also expanding into efficient Bitcoin mining and generative AI technology, leveraging renewable energy and advanced cooling systems.
+60
Business Practices and Ethical Responsibility
April 2
The company’s voluntary reduction in energy consumption to receive power credits shows a proactive approach to integrating sustainable practices into its business model. This responsible behavior promotes environmental benefits and grid stability, aligning with ethical business practices.
Iris Energy focuses on sustainable Bitcoin mining and AI technology expansion
+40
Technology and Services Impact
April 2
By integrating advanced, energy-efficient mining technology and expanding into generative AI, Iris Energy is leveraging technology in a way that minimizes environmental impact and supports innovative, sustainable approaches in the tech sector.
Iris Energy focuses on sustainable Bitcoin mining and AI technology expansion
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