Bitcoin mining company Iris Energy reported a net loss of $144 million in Q4

ChainCatcher news, Bitcoin mining company Iris Energy reported Q4 2022 revenue of $13.8 million and a net loss of $144 million. The primary reason for the loss was a non-cash impairment expense of $105.2 million, related to equipment financing and a decrease in Bitcoin mining volume.

Additionally, Iris Energy announced on Monday plans to nearly triple its hash rate after purchasing machines with 4.4 EH/s, and the company's stock price rose by 67% before Wednesday's close. (source link)