According to the Complaint, Iris Energy Limited describes itself as a “leading sustainable Bitcoin miner” and “a leading owner and operator of institutional-grade, highly efficient Bitcoin mining data centers.” This class action was filed against Iris Energy and three of its Officers.

The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Defendants overstated Iris Energy’s prospects with data centers and high performance computing, in large part as a result of material deficiencies in Iris Energy’s Childress County, Texas site; and (2) as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On January 7, 2025, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff voluntarily dismissed the case on March 14.