We put Environmental Social
and Governance (ESG) features
front and center.

Our focus on renewable energy

We are a sustainable Bitcoin miner, with a highly experienced energy and
infrastructure management team. We build, own and operate real assets
including data center infrastructure powered by renewable energy.

We target development in regions where we can access abundant and/or
under-utilised renewable energy. In the case of our flagship data center operation
in British Columbia, Canada, this is hydroelectricity.

We believe that as Bitcoin continues to develop as an emerging store of value and medium
of exchange, it is increasingly important that this asset class evolves in an environmentally
and socially responsible manner. Accordingly, we believe that renewable energy is the
best and most sustainable long-term source of power for our operations.

Ancillary services to electricity markets

In addition to utilising renewable energy, our infrastructure provides
important services to the electricity networks where we operate.

For example, our data centers can offer dynamic load management that can ramp down
electricity usage when demand is high or when renewable energy sources are producing
electricity at low volumes, and ramp up electricity usage when demand is low or when
renewable energy sources are producing electricity at high volumes that may otherwise
be wasted, thereby supporting the ongoing penetration of intermittent renewables.

Our data centers are also geographically flexible allowing us to locate our operations
in areas where there is excess generation and/or grid constraints. In this way, we can
support the efficient management of network resources and facilitate increased
renewable generation and the decarbonisation of energy markets.

Partnerships with First Nations & Indigenous communities

We look to partner with and support local First Nations
and Indigenous communities where we operate.

For example, we recently contributed C$500,000 to four indigenous Ktunaxa
First Nations communities who are the traditional land owners of our first flagship site
in British Columbia, Canada. We committed to make this an annual contribution subject
to the continuing and profitable operation of the 30MW data center, and will work
with the First Nations communities to deepen the relationship in a number of areas,
including by providing employment and training opportunities.

For further information, please see a copy of our media release and related news at:

Iris Energy commits to an enduring relationship with First Nations at Canal Flats
A sustainable solution for bitcoin mining in B.C.’s rural communities

 

Supporting regional and remote communities

We partner with Governments and support regional and remote local communities

Our operations are naturally geographically flexible and offer the (re)introduction of local employment and economic activity to regional and remote areas and communities that are often experiencing financial hardship due to declining manufacturing or industrial operations.

In regions where we operate, we provide funding for local community recreational infrastructure and volunteer groups (such as the Canal Flats Volunteer Fire & First Aid community group) and look to partner with schools and training authorities to develop programs to train maintenance technicians, network specialists and other operations staff.

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Governance

Iris Energy places a strong emphasis on proper governance and believes
that well governed companies typically face lower ESG risks, enabling
them to deliver sustainable long-term results to shareholders.

Governance issues of particular focus include alignment of the Board and management
with the ultimate owners of the company (our shareholders), internal controls, policies
and procedures, board composition and skills, executive remuneration,
business ethics, transparency of reporting, and accounting and audit practices.

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