Latest news with #DanielRoberts
Yahoo
a day ago
- Yahoo
Mark Zuckerberg has created the saddest place on the internet with Meta AI's public feed
Mark Zuckerberg's Meta AI is a stand-alone chatbot app. It has a public feed of people's chats — and it can be really depressing to read. It seems like some people are confused and don't know they're sharing their thoughts publicly. Meta's stand-alone AI app launched in late April, and like many people, my first thought was, "Huh?" After trying it out a little, my next thought was, "Oh no." A few weeks later, after the initial surge of curious new users, my thought is now: "Dear God." Meta AI's public stream is perhaps the most depressing feed I've come across in a long time. It's full of people sharing intimate information about themselves — things like thoughts on grief, or child custody, or financial distress. And it seems like some people aren't aware that what they're sharing will end up on a public feed. The Meta AI app is a bot more geared to casual chatting than complicated tasks like writing code or analyzing large data sets. And the part that's most different from ChatGPT or other large language models, like Google's Gemini, is Meta AI's public "Discover" feed. It shows off prompts, conversations, and image outputs from other users. Think of it like your Facebook feed, or your never-ending Instagram scroll, except on an app just for Meta AI. I'm not sure why someone would want to share some of the things I've read — nor am I sure why anyone who's not a nosy weirdo like I am would want to look at a feed of a bunch of strangers' interactions with a chatbot. And yet, people do share. Maybe they want to show off something like an image they thought was particularly cool. Back in late April, after the initial launch, Meta AI's feed was indeed mostly images. But mixed in, I noticed a few conversations that seemed more personal — someone asking about vitamin supplements for a 65-year-old woman, or for legal advice about getting fired, or for a special prayer. When I checked back on the app more recently, I was seeing even more of these personal takes — some even including a person's phone number and email address when they asked for help drafting a letter to a judge in a child custody case. Did that person mean to share that information with the world? Maybe, but I'm guessing they might have clicked the wrong button and didn't realize what they were doing. I could be wrong! Meta spokesman Daniel Roberts told me there's a multi-step process to sharing a chat history or image to Meta AI's Discovery feed. And to be clear, conversations with Meta AI aren't public by default. Like Roberts said, you have to explicitly choose to make something public by clicking "Share" and then "Post." Some other things I saw on the public feed: someone asking for help writing a poem for his wife's birthday, someone asking medical questions, someone asking for weight-loss tips. And someone who was talking to his wife who had died from cancer. Other conversations I saw: someone asking the AI to send them a reminder at the end of the month to cancel their Experian credit-monitoring subscription. One woman asked for help writing a letter to her local Elks Lodge after she said she'd been suspended for an altercation she had with another member. So, maybe some of those people wanted the world to read their AI chats. And others, maybe not. What I found even more eerie than the text and image feed was the audio feed. If a person uses the voice chat function, you can actually listen to recordings of their conversation if they're shared. At least two recordings I listened to appeared to be from people who didn't realize they had hit the audio button. One was having a conversation with a coworker about their shift schedule. Another sounded like a pocket dial: A man was having a conversation with another person, and Meta AI kept chiming in with suggestions. I found Meta AI's Discover feed depressing in a particular way — not just because some of the questions themselves were depressing. What seemed particularly dark was that some of these people seemed unaware of what they were sharing. People's real Instagram or Facebook handles are attached to their Meta AI posts. I was able to look up some of these people's real-life profiles, although I felt icky doing so. I reached out to more than 20 people whose posts I'd come across in the feed to ask them about their experience; I heard back from one, who told me that he hadn't intended to make his chat with the bot public. (He was asking for car repair advice.)Other users can reply to the posts that show up on the Meta AI Discover feed. On a few particularly personal posts, strangers warned the user that the potentially sensitive stuff they were sharing could be seen by the public. Mark Zuckerberg has said he thinks AI is super important. His company is reportedly making a huge investment in ScaleAI and could tap its CEO to lead a project with the goal of creating "superintelligence" that's smarter than a human. And yet, the consumer-facing features using Meta AI are kind of, uh, meh. There are user-generated romance chatbots on Instagram Messenger. There were the ill-fated ones voiced by celebrities (don't ask John Cena about this). Does Meta really want its AI efforts to amount to people posting — possibly accidentally — their interactions with its Meta AI bot on a public feed? In its rollout in April, Meta said the Discover feed was a "place to share and explore how others are using AI." I have to say that most of the stuff on Meta AI's Discover feed isn't grim and overly personal. Mostly, it's just silly images, mixed in with some other anodyne requests for recipes, or questions about how to even use this new technology. But I'm not convinced that this is "useful" or even "fun" to look at as a feed; it's a jumble of unrelated, random stuff, most of which actually is pretty boring. If Meta wants its users to adopt its AI like it's a useful and great thing, it's hard to square this with my awful experience on the Meta AI app. Read the original article on Business Insider
Business Insider
a day ago
- Business Insider
Mark Zuckerberg has created the saddest place on the internet with Meta AI's public feed
Meta's stand-alone AI app launched in late April, and like many people, my first thought was, "Huh?" After trying it out a little, my next thought was, "Oh no." A few weeks later, after the initial surge of curious new users, my thought is now: "Dear God." Meta AI's public stream is perhaps the most depressing feed I've come across in a long time. It's full of people sharing intimate information about themselves — things like thoughts on grief, or child custody, or financial distress. And it seems like some people aren't aware that what they're sharing will end up on a public feed. The Meta AI app is a bot more geared to casual chatting than complicated tasks like writing code or analyzing large data sets. And the part that's most different from ChatGPT or other large language models, like Google's Gemini, is Meta AI's public "Discover" feed. It shows off prompts, conversations, and image outputs from other users. Think of it like your Facebook feed, or your never-ending Instagram scroll, except on an app just for Meta AI. I'm not sure why someone would want to share some of the things I've read — nor am I sure why anyone who's not a nosy weirdo like I am would want to look at a feed of a bunch of strangers' interactions with a chatbot. And yet, people do share. Maybe they want to show off something like an image they thought was particularly cool. Meta AI's 'Discover' feed is full of personal interactions Back in late April, after the initial launch, Meta AI's feed was indeed mostly images. But mixed in, I noticed a few conversations that seemed more personal — someone asking about vitamin supplements for a 65-year-old woman, or for legal advice about getting fired, or for a special prayer. When I checked back on the app more recently, I was seeing even more of these personal takes — some even including a person's phone number and email address when they asked for help drafting a letter to a judge in a child custody case. Did that person mean to share that information with the world? Maybe, but I'm guessing they might have clicked the wrong button and didn't realize what they were doing. I could be wrong! Meta spokesman Daniel Roberts told me there's a multi-step process to sharing a chat history or image to Meta AI's Discovery feed. And to be clear, conversations with Meta AI aren't public by default. Like Roberts said, you have to explicitly choose to make something public by clicking "Share" and then "Post." Some other things I saw on the public feed: someone asking for help writing a poem for his wife's birthday, someone asking medical questions, someone asking for weight-loss tips. And someone who was talking to his wife who had died from cancer. Other conversations I saw: someone asking the AI to send them a reminder at the end of the month to cancel their Experian credit-monitoring subscription. One woman asked for help writing a letter to her local Elks Lodge after she said she'd been suspended for an altercation she had with another member. So, maybe some of those people wanted the world to read their AI chats. And others, maybe not. What I found even more eerie than the text and image feed was the audio feed. If a person uses the voice chat function, you can actually listen to recordings of their conversation if they're shared. At least two recordings I listened to appeared to be from people who didn't realize they had hit the audio button. One was having a conversation with a coworker about their shift schedule. Another sounded like a pocket dial: A man was having a conversation with another person, and Meta AI kept chiming in with suggestions. I found Meta AI's Discover feed depressing in a particular way — not just because some of the questions themselves were depressing. What seemed particularly dark was that some of these people seemed unaware of what they were sharing. People's real Instagram or Facebook handles are attached to their Meta AI posts. I was able to look up some of these people's real-life profiles, although I felt icky doing so. I reached out to more than 20 people whose posts I'd come across in the feed to ask them about their experience; I heard back from one, who told me that he hadn't intended to make his chat with the bot public. (He was asking for car repair advice.) Other users can reply to the posts that show up on the Meta AI Discover feed. On a few particularly personal posts, strangers warned the user that the potentially sensitive stuff they were sharing could be seen by the public. Meta wants its AI to be the future. But this doesn't feel like it. Mark Zuckerberg has said he thinks AI is super important. His company is reportedly making a huge investment in ScaleAI and could tap its CEO to lead a project with the goal of creating "superintelligence" that's smarter than a human. And yet, the consumer-facing features using Meta AI are kind of, uh, meh. There are user-generated romance chatbots on Instagram Messenger. There were the ill-fated ones voiced by celebrities (don't ask John Cena about this). Does Meta really want its AI efforts to amount to people posting — possibly accidentally — their interactions with its Meta AI bot on a public feed? In its rollout in April, Meta said the Discover feed was a "place to share and explore how others are using AI." I have to say that most of the stuff on Meta AI's Discover feed isn't grim and overly personal. Mostly, it's just silly images, mixed in with some other anodyne requests for recipes, or questions about how to even use this new technology. But I'm not convinced that this is "useful" or even "fun" to look at as a feed; it's a jumble of unrelated, random stuff, most of which actually is pretty boring. If Meta wants its users to adopt its AI like it's a useful and great thing, it's hard to square this with my awful experience on the Meta AI app.
Yahoo
20-05-2025
- Business
- Yahoo
Why IREN Ltd. (IREN) Skyrocketed Recently
We recently published a list of . In this article, we are going to take a look at where IREN Ltd. (NASDAQ:IREN) stands against other Friday's top performers. The stock market finished the trading week in the green territory as investors looked past the series of mixed corporate earnings performance and inflation worries, amid the easing trade tensions between the US and China. The Dow Jones climbed by 0.78 percent, while the S&P 500 and the tech-heavy Nasdaq grew by 0.70 percent and 0.52 percent, respectively. Beyond major indices, 10 companies—predominantly Bitcoin miners and quantum computing firms—registered a strong finish, thanks to fresh corporate developments boosting investor appetite. In this article, we name Friday's 10 top performers and detail the reasons behind their gains. To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume. A table full of technology, with bitcoin mining rigs and a laptop showing a financial graph. Shares of IREN Ltd. bounced back by 8.52 percent on Friday to close at $8.41 apiece following a strong earnings performance in the third quarter of fiscal year 2025. During the quarter ending March, IREN Ltd. (NASDAQ:IREN) said net income increased by 28 percent to $24.2 million from $18.9 million in the same period last year. Revenues reached $148.1 million, with the largest share owed to revenues from Bitcoin mining, with $141. million versus $113.5 million in the same period last year. Looking ahead, IREN Ltd. (NASDAQ:IREN) said that it is set to pause further mining expansion to focus on scaling its Artificial Intelligence infrastructure initiatives. Data centers 'Horizon 1 and Sweetwater anchor the next phase of our growth, with both projects placing IREN at the forefront of accelerating AI data center demand,' said IREN Ltd. (NASDAQ:IREN) co-founder and co-CEO Daniel Roberts. Overall, IREN ranks 10th on our list of Friday's top performers. While we acknowledge the potential of IREN as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than IREN but that trades at less than 5 times its earnings, check out our report about this . READ NEXT: and . Disclosure: None. This article is originally published at . Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
06-05-2025
- Business
- Associated Press
IREN April 2025 Monthly Update
SYDNEY, May 06, 2025 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ: IREN) (together with its subsidiaries, 'IREN' or 'the Company'), today published its monthly update for April 2025. April Highlights Mining capacity increased to 40 EH/s mid-month On track for 50 EH/s by June 30 Miners scheduled to ship from Southeast Asia (during 90-day pause on reciprocal tariffs) AI Cloud Services revenue continuing to grow Horizon 1 AI Data Center on track for H2 2025 delivery Customer and financing workstreams progressing Key Metrics Apr 25 Mar 25 Feb 25 Bitcoin Mining Average operating hashrate 36.6 EH/s 30.3 EH/s 28.7 EH/s Bitcoin mined3 579 BTC 533 BTC 459 BTC Revenue (per Bitcoin) $ 86,522 $ 85,012 $ 95,570 Electricity cost (per Bitcoin)1 ($24,381) ($20,460) ($28,341) Revenue $50.1m $45.3m $43.9m Electricity costs1 ($14.1m) ($10.9m) ($13.0m) Hardware profit2 $36.0m $34.4m $30.9m Hardware profit margin4 72% 76% 70% AI Cloud Services Revenue $2.0m $1.6m $1.2m Electricity costs1 ($0.04m) ($0.05m) ($0.04m) Hardware profit2 $2.0m $1.5m $1.1m Hardware profit margin4 98% 97% 96% Management Commentary 'We're proud to have expanded our mining capacity to 40 EH/s during the month, further cementing IREN as one of the largest-scale, lowest-cost producers of Bitcoin.' said Daniel Roberts, Co-Founder and Co-CEO of IREN. We remain on track to reach 50 EH/s within the next two months, with mining hardware shipments scheduled from Southeast Asia during the 90-day pause on reciprocal tariffs. Strong cashflows from our existing operations continue to support our efforts to secure financing for growth across our AI business verticals. With limited liquid-cooled capacity currently available in the U.S. to support the rollout of NVIDIA's Blackwell GPUs, our Horizon 1 project scheduled for 2025 commissioning represents a key catalyst for IREN's entry into the AI data center market. It also lays the foundation for scalable liquid-cooling deployments across our broader platform. We look forward to updating the market on the progress of these key projects at our upcoming earnings presentation.' Technical Commentary Bitcoin Mining Maintaining strong and resilient margins – underpinned by our best-in-class efficiency (15 J/TH), low electricity costs and energy market intelligence & algorithms (2.9c/kWh Childress power price)1 40 EH/s installed, on track for 50 EH/s in H1 2025 – expected to generate Illustrative Adjusted EBITDA of $588m at 50 EH/s based on current mining economics5 AI Cloud Services Revenue grew 27% month-on-month, driven by ramp-up of existing customer contracts Fleet near full utilization, with annualized run-rate revenue now $28 million6 AI Data Centers Customer and financing workstreams progressing for Horizon 1 (50MW IT load deployment at Childress), with a range of structures under consideration Working collaboratively with suppliers to manage tariff impacts, with no material change to Horizon 1 capex guidance of $300-$350m currently anticipated Events Q3 FY25 Results Presentation 5:00pm ET, May 14, 2025 (Register here ) Jefferies Power x Coin Conference (Webcast replay here ) Macquarie Asia Conference May 14-15, 2025 B Riley Annual Investor Conference May 20-22, 2025 Bitcoin 2025 Conference May 27-29, 2025 Kent Draper, CCO, presenting at Jefferies Power x Coin Conference (Apr 2025) Project Update Childress (750MW) Phase 1-4 (500MW) now fully operational Phase 5 (150MW) structures nearing completion, with substation transformer installation commencing in coming weeks Horizon 1 (50MW IT load) on track for H2 2025 commissioning Sweetwater 1 (1.4GW) General site-works underway Energization April 2026 Sweetwater 2 (600MW) Design work underway on a direct fiber loop connecting Sweetwater 1 & 2 to create 2GW Sweetwater data center hub Energization late 2027 Childress Phases 1-4 (Apr 2025) Childress Phase 5 Construction (Apr 2025) Childress Project Status Site Overview Assumptions and Notes Electricity costs are presented on a net basis and calculated as IFRS electricity charges, ERS revenue (included in other income) and ERS fees (included in other operating expenses). Figures are based on current internal estimates and exclude REC purchases. Hardware profit is calculated as revenue less electricity costs. Hardware profit is a non-IFRS financial measure and is provided in addition to, and not as a substitute for, measures of financial performance prepared in accordance with IFRS. Refer to the Forward-Looking Statements disclaimer. Bitcoin and Bitcoin mined in this investor update are presented in accordance with our revenue recognition policy which is determined on a Bitcoin received basis (post deduction of mining pool fees). Hardware profit margin for Bitcoin Mining and AI Cloud Services is calculated as revenue less electricity costs, divided by revenue (for each respective revenue stream) and excludes all other costs. Illustrative Adj. EBITDA = illustrative mining revenue less assumed net electricity costs, overheads and REC costs, and does not include working capital movements. Source: CoinWarz Bitcoin Mining Calculator. Illustrative calculations and inputs assume hardware operates at 100% uptime, 853 EH/s global hashrate, $0.035/kWh electricity costs, 3.125 BTC block reward, 0.1 BTC transaction fees and 0.16% pool fees, 765MW (power consumption), $104m (overheads), $16m (REC costs), and $95k Bitcoin price. Illustrative Adj. EBITDA is for illustrative purposes only and should not be considered projections of IREN's operating performance. Inputs are based on assumptions, including historical information, which are likely to be different in the future and users should input their own assumptions. There is no assurance that any illustrative outputs will be achieved within the timeframes presented or at all, or that mining hardware will operate at 100% uptime. The above should be read strictly in conjunction with the forward-looking statements disclaimer in this press release. AI Cloud Services annualized run-rate revenue for utilized GPUs as of May 5, 2025. Contacts Media Gillian Roberts Aircover Communications +1 818 395 2948 [email protected] Jon Snowball Sodali & Co +61 477 946 068 +61 423 136 761 Investors Mike Power IREN [email protected] To keep updated on IREN's news releases and SEC filings, please subscribe to email alerts at . Forward-Looking Statements This press release includes 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or IREN's future financial or operating performance. For example, forward-looking statements include but are not limited to the Company's business strategy, expected operational and financial results, and expected increase in power capacity and hashrate. In some cases, you can identify forward-looking statements by terminology such as 'anticipate,' 'believe,' 'may,' 'can,' 'should,' 'could,' 'might,' 'plan,' 'possible,' 'project,' 'strive,' 'budget,' 'forecast,' 'expect,' 'intend,' 'target', 'will,' 'estimate,' 'predict,' 'potential,' 'continue,' 'scheduled' or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that statement is not forward-looking. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking. These forward-looking statements are based on management's current expectations and beliefs. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause IREN's actual results, performance or achievements to be materially different from any future results performance or achievements expressed or implied by the forward looking statements, including, but not limited to: Bitcoin price and foreign currency exchange rate fluctuations; IREN's ability to obtain additional capital on commercially reasonable terms and in a timely manner to meet its capital needs and facilitate its expansion plans; the terms of any future financing or any refinancing, restructuring or modification to the terms of any future financing, which could require IREN to comply with onerous covenants or restrictions, and its ability to service its debt obligations, any of which could restrict its business operations and adversely impact its financial condition, cash flows and results of operations; IREN's ability to successfully execute on its growth strategies and operating plans, including its ability to continue to develop its existing data center sites, including to design and deploy direct-to-chip liquid cooling systems, and to diversify and expand into the market for high performance computing ('HPC') solutions it may offer (including the market for cloud services ('AI Cloud Services') and potential colocation services; IREN's limited experience with respect to new markets it has entered or may seek to enter, including the market for HPC solutions (including AI Cloud Services and potential colocation services); expectations with respect to the ongoing profitability, viability, operability, security, popularity and public perceptions of the Bitcoin network; expectations with respect to the profitability, viability, operability, security, popularity and public perceptions of any current and future HPC solutions (including AI Cloud Services and potential colocation services) that IREN offers; IREN's ability to secure and retain customers on commercially reasonable terms or at all, particularly as it relates to its strategy to expand into markets for HPC solutions (including AI Cloud Services and potential colocation services); IREN's ability to manage counterparty risk (including credit risk) associated with any current or future customers, including customers of its HPC solutions (including AI Cloud Services and potential colocation services) and other counterparties; the risk that any current or future customers, including customers of its HPC solutions (including AI Cloud Services and potential colocation services), or other counterparties may terminate, default on or underperform their contractual obligations; Bitcoin global hashrate fluctuations; IREN's ability to secure renewable energy, renewable energy certificates, power capacity, facilities and sites on commercially reasonable terms or at all; delays associated with, or failure to obtain or complete, permitting approvals, grid connections and other development activities customary for greenfield or brownfield infrastructure projects; IREN's reliance on power and utilities providers, third party mining pools, exchanges, banks, insurance providers and its ability to maintain relationships with such parties; expectations regarding availability and pricing of electricity; IREN's participation and ability to successfully participate in demand response products and services and other load management programs run, operated or offered by electricity network operators, regulators or electricity market operators; the availability, reliability and/or cost of electricity supply, hardware and electrical and data center infrastructure, including with respect to any electricity outages and any laws and regulations that may restrict the electricity supply available to IREN; any variance between the actual operating performance of IREN's miner hardware achieved compared to the nameplate performance including hashrate; IREN's ability to curtail its electricity consumption and/or monetize electricity depending on market conditions, including changes in Bitcoin mining economics and prevailing electricity prices; actions undertaken by electricity network and market operators, regulators, governments or communities in the regions in which IREN operates; the availability, suitability, reliability and cost of internet connections at IREN's facilities; IREN's ability to secure additional hardware, including hardware for Bitcoin mining and any current or future HPC solutions (including AI Cloud Services and potential colocation services) it offers, on commercially reasonable terms or at all, and any delays or reductions in the supply of such hardware or increases in the cost of procuring such hardware; expectations with respect to the useful life and obsolescence of hardware (including hardware for Bitcoin mining as well as hardware for other applications, including any current or future HPC solutions (including AI Cloud Services and potential colocation services) IREN offers); delays, increases in costs or reductions in the supply of equipment used in IREN's operations; IREN's ability to operate in an evolving regulatory environment; IREN's ability to successfully operate and maintain its property and infrastructure; reliability and performance of IREN's infrastructure compared to expectations; malicious attacks on IREN's property, infrastructure or IT systems; IREN's ability to maintain in good standing the operating and other permits and licenses required for its operations and business; IREN's ability to obtain, maintain, protect and enforce its intellectual property rights and confidential information; any intellectual property infringement and product liability claims; whether the secular trends IREN expects to drive growth in its business materialize to the degree it expects them to, or at all; any pending or future acquisitions, dispositions, joint ventures or other strategic transactions; the occurrence of any environmental, health and safety incidents at IREN's sites, and any material costs relating to environmental, health and safety requirements or liabilities; damage to IREN's property and infrastructure and the risk that any insurance IREN maintains may not fully cover all potential exposures; ongoing proceedings relating to the default by two of the Company's wholly-owned special purpose vehicles under limited recourse equipment financing facilities; ongoing securities litigation relating in part to the default, and any future litigation, claims and/or regulatory investigations, and the costs, expenses, use of resources, diversion of management time and efforts, liability and damages that may result therefrom; IREN's failure to comply with any laws including the anti-corruption laws of the United States and various international jurisdictions; any failure of IREN's compliance and risk management methods; any laws, regulations and ethical standards that may relate to IREN's business, including those that relate to Bitcoin and the Bitcoin mining industry and those that relate to any other services it offers, including laws and regulations related to data privacy, cybersecurity and the storage, use or processing of information and consumer laws; IREN's ability to attract, motivate and retain senior management and qualified employees; increased risks to IREN's global operations including, but not limited to, political instability, acts of terrorism, theft and vandalism, cyberattacks and other cybersecurity incidents and unexpected regulatory and economic sanctions changes, among other things; climate change, severe weather conditions and natural and man-made disasters that may materially adversely affect IREN's business, financial condition and results of operations; public health crises, including an outbreak of an infectious disease and any governmental or industry measures taken in response; IREN's ability to remain competitive in dynamic and rapidly evolving industries; damage to IREN's brand and reputation; expectations relating to Environmental, Social or Governance issues or reporting; the costs of being a public company; the increased regulatory and compliance costs of IREN ceasing to be a foreign private issuer and an emerging growth company, as a result of which we will be required, among other things, to file periodic reports and registration statements on U.S. domestic issuer forms with the SEC commencing with our next fiscal year, and we will also be required to prepare our financial statements in accordance with U.S. GAAP rather than IFRS, and to modify certain of our policies to comply with corporate governance practices required of a U.S. domestic issuer; that we do not currently pay any cash dividends on our ordinary shares, and may not in the foreseeable future and, accordingly, your ability to achieve a return on your investment in our ordinary shares will depend on appreciation, if any, in the price of our ordinary shares; and other important factors discussed under the caption 'Risk Factors' in IREN's annual report on Form 20-F filed with the SEC on August 28, 2024 as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC's website at and the Investor Relations section of IREN's website at These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this investor update. Any forward-looking statement that IREN makes in this investor update speaks only as of the date of such statement. Except as required by law, IREN disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise. Preliminary Financial Information The financial information presented in this investor update is not subject to the same closing procedures as our unaudited quarterly financial results and our audited annual financial results, and has not been reviewed or audited by our independent registered public accounting firm. The preliminary financial information included in this investor update does not represent a comprehensive statement of our financial results or financial position and should not be viewed as a substitute for unaudited financial statements prepared in accordance with International Financial Reporting Standards. Accordingly, you should not place undue reliance on the preliminary financial information included in this investor update. Non-IFRS Financial Measures This investor update includes non-IFRS financial measures, including electricity costs (presented on a net basis), hardware profit and illustrative adjusted EBITDA. We provide these measures in addition to, and not as a substitute for, measures of financial performance prepared in accordance with IFRS. There are a number of limitations related to the use of non-IFRS financial measures. For example, other companies, including companies in our industry, may calculate these measures differently. The Company believes that these measures are important and supplement discussions and analysis of its results of operations and enhances an understanding of its operating performance. Electricity costs are calculated as our IFRS Electricity charges, ERS revenue (included in Other income) and ERS fees (included in Other operating expenses), and excludes the cost of RECs. Hardware Profit is calculated as revenue less electricity costs (excludes all other site, overhead and REC costs). Illustrative Adjusted EBITDA is calculated as illustrative mining revenue less assumed net electricity costs, overheads and REC costs, and does not include working capital movements. Photos accompanying this announcement are available at
BBC News
08-04-2025
- BBC News
Penrith teacher banned over relationship with pupil
A teacher who was in a relationship with a student has been banned from the profession indefinitely. Daniel Roberts, 32, exchanged inappropriate emails, had given her lifts in his car and met with her for social activities during his time as head of music at a school in Penrith, Cumbria, between 2019 and 2021.A misconduct panel heard the relationship turned sexual in June 2022, after she left the Teaching Regulation Agency (TRA) found that the proven conduct was serious and it had been referred to the police, but no further action was taken. Mr Roberts admitted exchanging 3,000 pages worth of inappropriate and personal emails with the student between September 2019 and April 2021, and offering her lifts in his panel was shown examples, which included a discussion about the student taking a bath in Roberts, who was employed at the school from 2017, told the panel he attended events with her family and he was invited to her home. 'Multiple safeguarding failures' Mr Roberts admitted to starting a sexual relationship from June 2022 after the student had left the school. He denied his conduct prior to then was sexually motivated. He said it would have "repulsed him to see or be a teacher who wanted to engage in a romantic or sexual relationship with a pupil".The panel said it had not been given evidence that a sexual relationship had started before added that "Mr Roberts may have been contemplating some sort of future relationship with the pupil, it could not be satisfied that this was a sexual relationship".Mr Roberts told someone at the school that he was in a romantic relationship with a former pupil in June 2022. He was suspended the following month."There were multiple failures by Mr Roberts to address the safeguarding risk, and Mr Roberts actively encouraged and engaged in inappropriate communication with the pupil," the report found. 'No clear guidance' Regarding the emails, lifts and social meets, the panel was satisfied that Mr Roberts was guilty of unacceptable professional the panel was not satisfied that there had been a breach of the teachers' standards regarding the sexual panel considered there was "no clear guidance on when it may be considered appropriate for a teacher to engage in a sexual relationship with a former pupil".Mr Roberts was prohibited from teaching indefinitely and cannot teach in any school, sixth form college, relevant youth accommodation or children's home in panel said Mr Roberts would not be able to apply for the prohibition order to be set aside until 6 January 2030. Follow BBC Cumbria on X, Facebook, Nextdoor and Instagram.
