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Sowei 2025-01-13
Leo Colimerio scores 27 to help Queens University hold off Gardner-Webb 85-83The Department of Homeland Security (DHS) added 29 more Chinese entities to its list of exporters banned for suspected use of slavery, including companies that manufacture food and metals, from tomato paste to iron ore. Chinese propaganda organs were predictably outraged by the UFLPA action. The state-run Global Times on Monday published an apoplectic editorial that portrayed “forced labor” as pure fiction created by American politicians and businessmen as an excuse to treat China unfairly. “The U.S. is clearly using ‘human rights’ as a pretext to curb the development of Chinese enterprises, destabilize Xinjiang region [occupied East Turkistan] and contain China’s development,” railed Chinese Academy of Social Sciences research fellow Liu Weidong. WATCH — “Here I Am!” — Trump Warns China over Taking Advantage of American Workers While He Was Gone: Liu repeated the Chinese Communist Party’s mantra that “decoupling” from Chinese supply chains is “costly and unsustainable” for Western companies, as well as being a “shortsighted move that, in the long run, will negatively impact global economic stability and the interests of the U.S. itself.” The Chinese Foreign Ministry accused U.S. officials of “spreading false stories on Xinjiang” and “illegally” sanctioning Chinese companies for imaginary human rights violations. Foreign Ministry spokesman Lin Jian claimed the UFLPA would only hurt the Uyghurs by depriving them of employment. On Monday, the Global Times ran a propaganda piece intended to convince readers that the Uyghurs of East Turkistan have become happy and productive under China’s wise, if somewhat firm, stewardship. The piece included photos of smiling Uyghurs ostensibly delighted that China forced them to leave their homes and relocate to industrial and agricultural sites where they could find work. Also on Monday, the Department of Homeland Security announced a very big name that might soon be added to the UFLPA entity list: Temu, the Chinese online retailer famed for its low prices. DHS said it was investigating Temu over allegations of using forced labor to produce goods at dirt-cheap prices. DHS officials told the New York Post (NYP) that Temu has been under investigation for quite some time, but the Biden administration has been curiously reluctant to add it to the Entities List. That reluctance might end under the second Trump administration. Homeland Security Alejandro Mayorkas delivers remarks during a visit to the southern border on February 29, 2024, in Brownsville, Texas, as President Joe Biden, looks on. (AP Photo/Evan Vucci) “It’s just incredible that those guys can make a dress, ship it halfway around the world and sell it for, you know, $8 or something, and so those put all sorts of U.S. businesses out of business. And then comes in a question of, how do they do that?” former CIA intelligence officer Kevin Hulbert told the NYP. “They do it probably by having really cheap cotton in their goods and stuff, and so that’s an issue. We shockingly allow Temu to self-certify that none of their cotton comes from the Xinjiang province, which is where slave labor is used,” Hulbert said. The DHS action announced last Wednesday was the first time China-based companies that export steel or aspartame sweeteners have been added to the Uyghur Forced Labor Prevention Act (UFLPA) Entity List. The UFLPA is a law that took effect in January 2022, banning imports of products that might be tainted by forced labor from the oppressed Uyghur Muslims of occupied East Turkistan, which China refers to as Xinjiang province. The law presumes nearly all exports from Xinjiang have been contaminated with forced labor at some point in their production chains, unless the export company can prove otherwise. With the latest 29 additions – the largest number added in a single action since 2022 – the number of entities on the UFLPA ban list stands at 107. It will most likely be the last forced-labor enforcement action of the outgoing Biden administration. “Today’s enforcement actions make it clear: the United States will not tolerate forced labor in the goods entering our markets,” said DHS Under Secretary for Policy Robert Silvers, who chairs the Forced Labor Enforcement Task Force (FLETF). “The Uyghur Forced Labor Prevention Act is a powerful tool in the fight against forced labor, and we are using it to its full potential. We urge companies to take responsibility, know their supply chains, and act ethically,” Silvers said on Wednesday. WATCH — Harshbarger: U.S. “Dependent” on Foreign Countries Supplying Medical Ingredients Needed for Survival: Twenty-three of the 29 new additions are agricultural companies, while the others mine or process minerals such as copper, lithium, beryllium, nickel, manganese, and gold. Solar power and textiles were among the first industries to be heavily impacted by the UFLPA, but recently the U.S. government has been taking a closer look at Chinese metals and seafood products. Critics of the Biden administration claim enforcement has been too lax, but they expect it to become much more vigorous under President-elect Donald Trump and his Secretary of State nominee, Sen. Marco Rubio (R-FL), who was a sponsor of the Uyghur Forced Labor Prevention Act. Rubio sent a letter to DHS Secretary Alejandro Mayorkas on October 31, complaining that the Biden administration has not used the tools provided by the UFLPA aggressively enough against certain Chinese pharmaceutical companies. “The Uyghur Forced Labor Prevention Act assures the American people that the products they purchase were made without slave labor. It is clear that the lack of oversight by the FDA (Food and Drug Administration) has not made this true,” Rubio wrote. “The FDA and DHS have a responsibility to rectify this dangerous error and uphold the law,” Rubio told Mayorkas.0bets.io token

Can Coal Ash Solve the Rare Earth Supply Chain Crisis?

Recently I published a round up of quite awful hydrogen maritime trial efforts , and ended with a request that if others knew of more that they should share. A few additional ones bubbled up and there were a couple of minor corrections and delightful additions. I encourage those who haven’t read the previous article to do so via the link above and then read this article. Let’s return to the subject of much of the analysis in the recent article, the MF Hydra. As a reminder, it gets its hydrogen from 1,300 kilometers away in Germany. It’s actually a slightly longer trip than Google Maps suggested as you can’t drive liquid hydrogen trucks through most tunnels in Europe because of the hazards, so it has to detour around Hamburg. The combination of the four truck loads driving at least two days in each direction — ferries have strict requirements and restrictions around liquid hydrogen trucks as well, so it’s quite possible that they will face delays there as well —, the higher carbon electricity used to make the hydrogen in Germany and the leakage of high global warming potential hydrogen through the value chain means that the ferry is emitting twice as much greenhouse gas well to wake as the diesel ferry it replaces, and at roughly ten times the cost of energy as the roughly 80 battery electric ferries that crossing Norway’s fjords already. But a commenter pointed out another amusing point, which is that the fuel cells can’t deliver as much power as the batteries on an electric ferry which operates on exactly the same triangular route between three small ports in western Norway. As a result, it does the same trip but slower. Ten times the cost, about 40 times the emissions and it can’t even do the same job. Par for the course for hydrogen based on my assessment of fleets globally. They sell it as being exactly the same as fossil fuels with no operational changes required and having superior characteristics to batteries, and that’s just not true. But the Hydra wasn’t Norway’s first foray into bedragssløsing (a Norwegian compound word I had ChatGPT make up for me combining deception and waste). The Beffen hydrogen ferry project in Bergen, Norway — a town a couple of hundred kilometers, six ferry rides and 37 hours travel north of the Hydra’s failures, launched in 2009. It was an attempt to integrate hydrogen fuel cell technology into one of the city’s historic passenger ferries. The project faced the usual significant challenges, including limited refueling infrastructure, storage and safety concerns, and fuel cell durability. These obstacles, combined with high operational costs and technological limitations that continue to face hydrogen transportation attempts today because they are systemic and impossible to overcome, led to the project being abandoned in 2016. Despite its failure, Norway wasted more money on the MF Hydra, which is going to be abandoned for the same reasons in the not to distant future. Then there is the 30-meter, solar-panel, wind turbine, kite sail and electrolyzer toting Energy Observer catamaran . It completed a seven-year journey around the world recently. Launched in 2017 and retrofitted from a former racing catamaran, the vessel traveled across 50 countries and 101 ports. It produced some hydrogen from seawater through onboard electrolysis. Now back in its home port of Saint-Malo, France, the vessel continues to serve as an educational platform, aka it’s moored, not going anywhere and kids get school trips to it. You might notice I used the modifier “some” before hydrogen there. The big claim they make is that over the seven years they produced 1.3 tons of hydrogen on board from sea water. That’s half a kilogram a day on average. Under perfectly calm conditions and ideal conditions with no hull fouling and good propellers, that might be able to provide five kilometers of range. That’s not exactly a big contributor. More likely it was used for onboard systems like the radio and induction stove. Of course, it had batteries too, 112 kWh of lithium-ion batteries. That half kilogram of hydrogen could have been stored as electricity without any of the absurd losses with 95 kWh to spare. If they’d ripped out the electrolyzer, compressors, hydrogen storage tanks and fuel cells, which weighed 1.5 tons and occupied 5 cubic meters, they could have put another 300 kWh of storage in there for the mass and had 4.4 extra cubic meters to play with, which would have been much more useful. Assuming they could have filled the batteries, they could have traveled about 180 kilometers on the 300 kWh. Despite this really obvious mass, volume, energy and balance distance, people do keep pointing at the Energy Observer as being hydrogen powered, when in actual fact it just wasted a lot of generated electricity making hydrogen and not getting much for it. The Energy Observer isn’t the only attempt to do this. The Race for Water is a 35-meter-long hydrogen-powered catamaran retrofitted from the PlanetSolar, transforming it into a hybrid renewable energy vessel combining solar panels, a hydrogen fuel cell system, and a kite sail for wind propulsion. It faced the usual challenges such as limited hydrogen infrastructure, storage constraints, and complex maintenance requirements which hindered its efficiency during a couple of global expeditions. The Race for Water Foundation is sensibly transitioning to the MODX 70, a zero-emission vessel powered by advanced hydrogeneration and wind propulsion systems, entirely abandoning hydrogen in favor of a more streamlined and sustainable energy design. Lots of batteries, no hydrogen, par for the course for people who try it. Then there’s the MARANDA project , funded with $3.1 million from the EU’s Horizon 2020 program, which aimed to demonstrate the viability of hydrogen fuel cell systems in maritime applications. Installed aboard the research vessel Aranda, the system provided 165 kW of power for auxiliary systems and dynamic positioning, replacing conventional diesel generators. The project faced the usual significant challenges, including limited refueling infrastructure, the durability of proton exchange membrane fuel cells in harsh marine environments, and the high cost of hydrogen production and storage. The MARANDA project stopped in 2022, having proven yet again that hydrogen is really bad for this use case, but claiming success. Next up is the Viking Neptune cruise ship, delivered in November 2022. It has a small 100 kW fuel cell designed to power a portion of auxiliary systems such as lighting and ventilation. It’s explicitly experimental, because once again they haven’t looked at all of the experiments already done that find that batteries are vastly superior in pretty much every way. Then there are the in-progress efforts by people who refuse to learn from history. There’s the With Orca , which is bulk carrier developed through a collaboration between HeidelbergCement and Felleskjøpet Agri. The 88-meter bulk carrier will have compressed hydrogen stored onboard and features two rotor sails for wind-assisted propulsion. Apparently they’ve at least learned that fuel cells and ocean air don’t mix, so they instead are going to be using even less efficient internal combustion engines. It was supposed to enter service early this year, but naturally there’s no way to refuel the thing, so governments have ponied up $9.3 million to build infrastructure that will end up being abandoned as costs escalate and the reality of hydrogen’s leakage rates and high greenhouse gas status become apparent. They’ll undoubtedly claim success regardless. Back to Norway and ferries. Norway is investing $550 million to build and operate two hydrogen-powered ferries on the 100 kilometer, open seas, Vestfjorden route for 15 years, with construction costs estimated at ~$276 million USD per vessel—up to four times higher than the $60–100 million USD typical for diesel or LNG ferries. By contrast, battery electric ferries typically cost 30% to 40% more than fossil fuel powered equivalents. The ferries will be supplied with 5–6 tons of green hydrogen daily from GreenH AS under a 15-year agreement, with the hydrogen produced via electrolysis powered by renewable energy. Certainly given the location in the far northwest of Norway, the hydrogen would have to be shipped in at extraordinary expense. Substantial government subsidies, including Enova SF’s $68.3 million for hydrogen infrastructure, aim to offset the higher costs of hydrogen vessels and their refueling systems. Basically they are going to be throwing away two-thirds of the electricity that they could have been putting into much more reliable batteries, all in the name of providing more reliable shipping. I don’t think this will end well. Expect stories about missed sailings, high expenses, failed refueling and high hydrogen greenhouse gas emissions. In the weird annals of hydrogen on the high seas, it’s time for a dictator’s yacht. The Hydrogen Viking is a reported project to transform a 28-meter Sunseeker Predator 95 yacht, formerly owned by Muammar Gaddafi and named Che Guevara, into a hydrogen-powered vessel. After being grounded in Malta and left deteriorating, the yacht was acquired by Norwegian shipbuilder Green Yacht. Three years after the announcement, it’s apparently still deteriorating somewhere. I’m not waiting with bated breath for it. The Finnøy Hydrogen Ferry Project is — or maybe was — an initiative by Norwegian operator Norled to replace biodiesel with hydrogen fuel on a ferry serving the Finnøy route, northeast of Stavanger. The project is part of the EU-funded FLAGSHIPS initiative — more money wasted by the EU trying to make hydrogen fit for purpose for transportation —, which aims to deploy two hydrogen-powered vessels: one in Stavanger, Norway, and another in Lyon, France. Naturally, it can’t get hydrogen. In January 2020, Enova, a Norwegian government enterprise, allocated $1.3 million to support this conversion and an additional $2.2 million for the development of a hydrogen production and bunkering facility at Fiskå. This facility is planned to produce approximately one ton of hydrogen per day, with half designated for the ferry’s operations. As of December 2024, the ferry operates on biodiesel, with the hydrogen conversion pending further technical and economic evaluations, meaning it’s unlikely to ever happen given the reality of costs. Havila Voyages operates four hybrid cruise ships—Havila Capella, Havila Castor, Havila Polaris, and Havila Pollux—that combine LNG engines with large battery packs, enabling up to four hours of zero-emission operation in sensitive fjords. The ships are designed for future conversion to hydrogen fuel as part of the FreeCo2ast project, funded by Norwegian organizations, including Enova and the Research Council. Havila aims to transition to renewable biogas by 2028 and hydrogen by 2030 to comply with Norway’s 2026 ban on fossil-fuel-powered vessels in protected fjords. What’s really going to happen is that they might transition to biogas, but they’ll definitely put in much bigger batteries. Hydrogen? Not likely. Of course, luxury cruise ships have much higher margin than most maritime use cases, so maybe they’ll waste the money. Ulstein, a Norwegian shipbuilding company that’s an innovator in hull design with its X-Bow, has developed the ULSTEIN SX190 Zero Emission design, a theoretical 99-meter-long offshore construction support vessel powered by hydrogen fuel cells. As of December 2024, the vessel remains in the design phase, with no reports indicating that construction has commenced. Ulstein had projected that sea trials could begin as early as 2022. That clearly didn’t happen and is unlikely to ever happen. As a reminder, hydrogen isn’t zero emission as it leaks everywhere along the value chain and has a high global warming potential. To be fair to Ulstein, a firm I admire a great deal for the X-Bow, the leakage rates were hypothetical from first principles until recently when peer-reviewed studies started measuring it , and the high global warming potential is also relatively new news, with the Nature paper finding 13 to 37 times the potency of carbon dioxide over 100 and 20 year time frames only coming out in 2023. With luck and a little careful effort by rational energy actors, these papers and their implications will get in front of funding agencies so that hydrogen can be put back where it belongs, in industrial facilities as a carefully controlled feedstock. The Østensjø Rederi Offshore Wind Service Vessel (OWSP) is another reported Norwegian hydrogen-powered ship intended to support offshore wind farm operations. As of now, specific details regarding the vessel’s construction status, operational timeline, and technical specifications have not been publicly disclosed. The development of hydrogen infrastructure and technology will play a crucial role in the project’s progression, meaning it’s unlikely to ever hit water either. The shipping industry is just like every other green hydrogen for energy market, full of announcements which never pass final investment decision. People pushing hydrogen fill their decks with announcements, but never mention that they don’t and likely won’t exist. Samskip , a European logistics firm, is pushing ahead with two hydrogen-powered shipping projects despite uncertainty caused by the financial troubles of its partner, TECO 2030. The SeaShuttle project involves constructing two 135-meter container ships with 3.2 MW hydrogen fuel cells, set to operate between Oslo and Rotterdam by late 2025. Separately, the HyEkoTank project plans to retrofit the multipurpose vessel Samskip Kvitnos with hydrogen fuel cells to meet EU and Norwegian “zero-emission” regulations. However, TECO 2030, responsible for providing the hydrogen technology, filed for bankruptcy in November 2024, raising concerns about project timelines. Moss Maritime , a subsidiary of Saipem, has developed a liquefied hydrogen containment system inspired by its established spherical LNG tank design. The company has received Approval in Principle from DNV for its LH2 containment system. However, no vessels using this technology have been constructed or entered operation to date. And none likely will, as everyone now realizes what was obvious to anyone who did the math with real numbers years ago knew, which is that energy that costs ten times what LNG costs isn’t affordable to any country’s economy. In November 2020, DFDS announced plans to develop a hydrogen-powered ferry, Europa Seaways, for the Oslo–Frederikshavn–Copenhagen route. The vessel, designed to carry 1,800 passengers and up to 120 trucks or 380 cars, would feature a 23 MW hydrogen fuel cell system, with fuel sourced from a wind-powered electrolyzer in Copenhagen. Initially projected to enter service by 2027, there have been no significant updates on construction or funding progress as of December 2024, leaving the project’s status uncertain. Dead in the water, more likely, as cost realities reared their ugly heads. The trend, by the way, is very clear, with a rather overwhelming majority of hydrogen shipping projects being in Norway. Odd how a fossil fuel major is trying to really hard to make molecules for energy remain a thing, especially when they have 80 electric ferries cheaply, efficiently and reliably plying their waters already. CleanTechnica's Comment Policy LinkedIn WhatsApp Facebook Bluesky Email Reddit

Jerry Jones: Mike McCarthy Extension 'Not Crazy At All'

Image 1 of 21 next Jimmy Carter (b. 1924), 39th President of the United States, 1977-81. (Getty Images) Image 2 of 21 prev next Future President Jimmy Carter as a midshipman at the U.S. Naval Academy in Annapolis, Maryland. (Getty Images) Image 3 of 21 prev next Graduation of Jimmy Carter from U.S. Naval Academy, Annapolis, Maryland. Rosalynn Smith (Carter) and his mother Lillian Carter pinning on his ensign bars, June 5, 1946. (National Archives) Image 4 of 21 prev next Then Georgia Gov. Jimmy Carter sitting in a rocking chair at his home in Plains, Georgia in 1974. Carter served two terms as a Georgia state senator from 1963 to 1967, and one as governor from 1971 to 1975, prior to his election as the 39th President of the United States, where he served from 1977 to 1981. (Archive Photos) Image 5 of 21 prev next Ted Kennedy (1932 - 2009) and then-presidential candidate Jimmy Carter at a Carter campaign event in Boston, Massachusetts in 1976. (Mikki Ansin) Image 6 of 21 prev next Rosalynn Carter, Jimmy Carter, Walter Mondale at Democratic National Convention, New York City, New York, USA, Warren K. Leffler, July 15, 1976. (Photo by: Universal History Archive/Universal Images Group via Getty Images) (Universal History Archive/Universal Images Group) Image 7 of 21 prev next Jimmy Carter is sworn in by Chief Justice Earl Burger as the 39th President of the United States while first lady Rosalynn looks on, Washington D.C., January 20, 1977. (Hulton Archive) Image 8 of 21 prev next Closeup of President Jimmy Carter addressing a town meeting in Elk City, Oklahoma on March 24, 1979. (Getty Images) Image 9 of 21 prev next Jimmy Carter, Rosalynn Carter and their children during the 1980 Democratic National Convention in New York City at Madison Square Garden. (Ron Galella) Image 10 of 21 prev next A portrait of President Jimmy Carter and his extended family. Left to right: Judy (Mrs. Jack Carter); Jason James Carter; Jack (John William Carter); Annette (Mrs. Jeff Carter); Jeff (Donnel Jeffrey Carter); First Lady Rosalynn Carter; daughter Amy Lynn Carter; President Carter; daughter-in-law Caron Griffin Carter holding James Earl Carter IV; and son Chip (James Earl Carter III). 1977-1980. (Corbis) Image 11 of 21 prev next Egyptian President Anwar Sadat (left, 1918 - 1981), President Jimmy Carter and Israeli Prime Minister Menachem Begin (1913 - 1992) share a three way handshake after the signing of the Camp David Accords Peace Treaty between Egypt and Israeli on the north lawn of the White House.(Photo by UPI/Bettmann Archive/Getty Images) (UPI/Bettmann Archive/) Image 12 of 21 prev next ATLANTA, GA - JUNE 29: Rock and Roll singer Elvis Presley poses for a portrain with Georgia Governor Jimmy Carter and his wife Eleanor Carter backstage at the Omni on June 29, 1973 in Atlanta, Georgia. (Photo by Michael Ochs Archives/Getty Images) (Michael Ochs Archives) Image 13 of 21 prev next Jimmy Carter arrives at Winfield House for his stay during the Economic Summit in London, UK, on May 7, 1977. (Hilaria McCarthy) Image 14 of 21 prev next President Jimmy Carter and First Lady Rosalynn Carter on a train in Alexandria, Egypt, during a trip to the Middle East, March 9, 1979. (Jimmy Carter Library) Image 15 of 21 prev next Outgoing US President Jimmy Carter (left) and First Lady Rosalynn Carter (second left) receive President-Elect Ronald Reagan and (future First Lady) Nancy Reagan at the White House, Washington DC, November 20, 1980. Reagan had just defeated Carted in the 1980 Presidential Election. (Photo by Diana Walker/Getty Images) (Diana Walker) Image 16 of 21 prev next Former U.S. President Jimmy Carter speaks to the congregation at Maranatha Baptist Church before teaching Sunday school in his hometown of Plains, Georgia on April 28, 2019. Carter taught Sunday school at the church on a regular basis since leaving the White House in 1981, drawing hundreds of visitors who arrive hours before the 10:00 am lesson in order to get a seat and have a photograph taken with the former President and former First Lady Rosalynn Carter. (Hennessy/NurPhoto via Getty Images) Image 17 of 21 prev next Former U.S. President Jimmy Carter and former First Lady Rosalynn Carter wear traditional Ghanaian attire, a gift from the chief of Tingoli village in northern Ghana, where The Carter Center, in partnership with Ghana's Ministry of Health, has worked to eradicate Guinea worm disease and eliminate trachoma. The Carters visited the village on Feb. 8, 2007, as part of a two-week health tour of remote African villages. (The Carter Center) Image 18 of 21 prev next Then-President Barack Obama, former president Jimmy Carter, first lady Michelle Obama, and former president Bill Clinton wave as they leave at the end of the Let Freedom Ring ceremony at the Lincoln Memorial on August 28, 2013, in Washington, D.C. The event was to commemorate the 50th anniversary of Dr. Martin Luther King Jr.'s "I Have a Dream" speech and the March on Washington for Jobs and Freedom. (Alex Wong) Image 19 of 21 prev next Carter received the Nobel Peace Prize. Oslo City Hall, Dec. 10, 2002. (The Carter Center) Image 20 of 21 prev next Former President Jimmy Carter was interviewed for "The Presidents' Gatekeepers" project at the Carter Center in Atlanta, Georgia, on September 14, 2011. (David Hume Kennerly) Image 21 of 21 prev ATLANTA -- SEPT 14: Former President Jimmy Carter interviewed for "The Presidents' Gatekeepers" project at the Carter Center, Atlanta, Georgia, September 14, 2011. (Photo by David Hume Kennerly/Getty Images) (David Hume Kennerly) Jimmy Carter served as the 39th President of the United States. Known for his Christian faith, Carter lived a life of service that left a forever mark on United States history. CLICK HERE TO GET THE FOX NEWS APP Aubrie Spady is a Writer for Fox News Digital.

DENVER (AP) — So you're the most valuable player of that annual Thanksgiving Day backyard flag football game. Or played tackle football on any level. Or ran track. Or dabbled in basketball. Or toyed with any sport, really. Well, this may be just for you: USA Football is holding talent identification camps all over the country to find that next flag football star. It's “America’s Got Talent” meets “American Idol,” with the stage being the field and the grand prize a chance to compete for a spot on a national team. Because it’s never too early to start planning for the 2028 Olympics in Los Angeles, where flag football will make its Summer Games debut. Know this, though — it's not an easy team to make. The men's and women's national team rosters are at “Dream Team” status given the men’s side has captured six of the last seven world championships and the women three in a row. To remain on top, the sport's national governing body is scouring every football field, park, track, basketball court and gym to find hidden talent to cultivate. USA Football has organized camps and tryouts from coast to coast for anyone ages 11 to 23. There are more than a dozen sites set up so far, ranging from Dallas (Sunday) to Chicago (Dec. 14) to Tampa (March 29) to Los Angeles (TBD) and the Boston area (April 27), where it will be held at Gillette Stadium, home of the New England Patriots. The organization has already partnered with the NFL on flag football initiatives and programs. The numbers have been through the roof, with engagement on social media platforms increasing by 86% since flag football was announced as an Olympic invitational sport in October 2023 . The participation of boys and girls ages 6 to 17 in flag football last year peaked at more than 1.6 million, according to USA Football research. “We pride ourselves on elevating the gold standard across the sport,” said Eric Mayes, the managing director of the high performance and national teams for USA Football. “We want to be the best in the world — and stay the best in the world.” Flag football was one of five new sports added to the LA28 program. The already soaring profile of American football only figures to be enhanced by an Olympic appearance. Imagine, say, a few familiar faces take the field, too. Perhaps even NFL stars such as Tyreek Hill or Patrick Mahomes, maybe even past pro football greats donning a flag belt for a country to which they may have ties. Soon after flag football's inclusion, there was chatter of NFL players possibly joining in on the fun. Of course, there are logistical issues to tackle before their inclusion at the LA Olympics, which open July 14, 2028. Among them, training camp, because the Olympics will be right in the middle of it. The big question is this: Will owners permit high-priced players to duck out for a gold-medal pursuit? No decisions have yet been made on the status of NFL players for the Olympics. For now, it's simply about growing the game. There are currently 13 states that sanction girls flag football as a high school varsity sport. Just recently, the Pittsburgh Steelers and Philadelphia Eagles helped pave the way to get it adopted in Pennsylvania. Around the world, it's catching on, too. The women's team from Japan took third at the recent word championships, while one of the best players on the planet is Mexico quarterback Diana Flores . “Could flag football globally become the new soccer? That’s something to aspire to," said Stephanie Kwok , the NFL's vice president of flag football. This type of flag football though, isn't your Thanksgiving Day game with family and friends. There's a learning curve. And given the small roster sizes, versatility is essential. Most national team members need to be a version of Colorado’s two-way standout and Heisman hopeful Travis Hunter. Forget bump-and-run coverage, too, because there's no contact. None. That took some adjusting for Mike Daniels, a defensive back out of West Virginia who earned a rookie minicamp invitation with the Cleveland Browns in 2017. “If a receiver is running around, I’m thinking, ‘OK, I can kind of bump him here and there and nudge him,’” Daniels explained. “They’re like, ‘No, you can’t.’ I’m just like, ‘So I’m supposed to let this guy just run?!’ I really rebelled at the idea at first. But you learn.” The competition for an Olympic roster spot is going to be fierce because only 10 players are expected to make a squad. The best 10 will earn it, too, as credentials such as college All-American or NFL All-Pro take a backseat. “I would actually love" seeing NFL players try out, said Daniels, who's also a personal trainer in Miami. “I’m not going to let you just waltz in here, thinking, ‘I played NFL football for five years. I’m popular. I have a huge name.’ I’m still better than you and I'm going to prove it — until you prove otherwise.” Around the house, Bruce Mapp constantly swivels his hips when turning a hallway corner or if his daughter tries to reach for a hug. It’s his way of working on avoiding a “defender” trying to snare the flag. That approach has earned the receiver out of Coastal Carolina four gold medals with USA Football. The 31-year-old fully plans on going for more gold in Los Angeles. “You grow up watching Usain Bolt (win gold) and the ‘Redeem Team’ led by Kobe Bryant win a gold medal, you're always thinking, ‘That's insane.' Obviously, you couldn't do it in your sport, because I played football," said Mapp, who owns a food truck in the Dallas area. "With the Olympics approaching, that (gold medal) is what my mind is set on." It's a common thought, which is why everything — including talent camps — starts now. “Everybody thinks, ‘Yeah, the U.S. just wins,’” Daniels said. “But we work hard all the time. We don’t just walk in. We don’t just get off the bus thinking, ‘We’re going to beat people.’” AP NFL: https://apnews.com/hub/nfl and https://twitter.com/AP_NFL

MINNEAPOLIS — Alperen Sengun had 22 points, 10 rebounds and 11 assists, Fred VanVleet added 27 points and 11 assists, and the Houston Rockets pulled out a 117-111 overtime win against the Minnesota Timberwolves in an NBA Cup game on Tuesday night. Dillon Brooks added 22 points for Houston, which improved to 3-0 in the competition and clinched West Group A and a spot in the NBA Cup quarterfinals. Anthony Edwards had 29 points and 10 rebounds for Minnesota, which has lost three in a row. Julius Randle scored 21, while Naz Reid had 19 off the bench. Rookie Rob Dillingham, the No. 8 pick in the draft out of Kentucky, had his best game of the season, helping to fill the void left by point guard Mike Conley, who missed his third straight game with a left great toe sprain. Dillingham had 12 points and season highs with seven assists and five rebounds. Takeaways Rockets: This young team has shown it’s for real, particularly on the defensive end. It had 12 steals, nine blocks and forced the Wolves into 17 turnovers that led to 16 points. Timberwolves: Regardless of the loss, Minnesota needed this type of performance after back-to-back losses and a narrow win over Phoenix, which was without Kevin Durant and Bradley Beal. Key moment With 15 seconds left in regulation, Sengun got a pass on a drive to the basket for a potential layup, but Gobert came across for the block to keep the score tied. Edwards’ jumper on the other end was off the mark and the game went to overtime. Houston Rockets forward Jabari Smith Jr. (10) and Minnesota Timberwolves forward Jaden McDaniels (3) fight for the ball during the first half of an Emirates NBA cup basketball game, Tuesday, Nov. 26, 2024, in Minneapolis. Credit: AP/Abbie Parr Key stat Houston shot 15 of 37 from 3-point territory, including a 10 of 18 in the first half to build its lead. UP NEXT Both teams were playing the first game of a back-to-back set. Houston plays at Philadelphia on Wednesday night, while the Wolves stay home against Sacramento.

JERUSALEM — Israel approved a ceasefire agreement with Lebanon's Hezbollah militants on Tuesday that would end nearly 14 months of fighting linked to the war in the Gaza Strip. The ceasefire, starting at 4 a.m. local time Wednesday, would mark the first major step toward ending the regionwide unrest triggered by Hamas’ attack on Israel on Oct. 7, 2023. But it does not address the devastating war in Gaza , where Hamas is still holding dozens of hostages and the conflict is more intractable. Hours before the ceasefire with Hezbollah was to take effect, Israel carried out the most intense wave of strikes in Beirut and its southern suburbs since the start of the conflict and issued a record number of evacuation warnings. At least 42 people were killed in strikes across the country, according to local authorities. Another huge airstrike shook Beirut shortly after the ceasefire was announced. There appeared to be lingering disagreement over whether Israel would have the right to strike Hezbollah if it believed the militants had violated the agreement, something Prime Minister Benjamin Netanyahu insisted was part of the deal but which Lebanese and Hezbollah officials have rejected. Israel's security Cabinet approved the U.S.-France-brokered ceasefire agreement after Netanyahu presented it, his office said. U.S. President Joe Biden, speaking in Washington, called the agreement “good news” and said his administration would make a renewed push for a ceasefire in Gaza. The Biden administration spent much of this year trying to broker a ceasefire and hostage release in Gaza but the talks repeatedly sputtered to a halt . President-elect Donald Trump vowed to bring peace to the Middle East without saying how. Still, any halt to the fighting in Lebanon is expected to reduce the likelihood of war between Israel and Iran, which backs both Hezbollah and Hamas and exchanged direct fire with Israel on two occasions earlier this year. Israel says it will ‘attack with might’ if Hezbollah breaks truce Netanyahu presented the ceasefire proposal to Cabinet ministers after a televised address in which he listed accomplishments against Israel’s enemies across the region. He said a ceasefire with Hezbollah would further isolate Hamas in Gaza and allow Israel to focus on its main enemy, Iran. “If Hezbollah breaks the agreement and tries to rearm, we will attack,” he said. “For every violation, we will attack with might.” The ceasefire deal calls for a two-month initial halt in fighting and would require Hezbollah to end its armed presence in a broad swath of southern Lebanon, while Israeli troops would return to their side of the border. Thousands of additional Lebanese troops and U.N. peacekeepers would deploy in the south, and an international panel headed by the United States would monitor compliance. Biden said Israel reserved the right to quickly resume operations in Lebanon if Hezbollah breaks the terms of the truce, but that the deal "was designed to be a permanent cessation of hostilities.” Netanyahu’s office said Israel appreciated the U.S. efforts in securing the deal but “reserves the right to act against every threat to its security.” Lebanon’s caretaker Prime Minister Najib Mikati welcomed the ceasefire and described it as a crucial step toward stability and the return of displaced people. Hezbollah has said it accepts the proposal, but a senior official with the group said Tuesday it had not seen the agreement in its final form. “After reviewing the agreement signed by the enemy government, we will see if there is a match between what we stated and what was agreed upon by the Lebanese officials,” Mahmoud Qamati, deputy chair of Hezbollah’s political council, told the Al Jazeera news network. “We want an end to the aggression, of course, but not at the expense of the sovereignty of the state," he said, referring to Israel's demand for freedom of action. “Any violation of sovereignty is refused.” Warplanes bombard Beirut and its southern suburbs Even as ceasefire efforts gained momentum in recent days, Israel continued to strike what it called Hezbollah targets across Lebanon while the militants fired rockets, missiles and drones across the border. An Israeli strike on Tuesday leveled a residential building in central Beirut — the second time in recent days warplanes have hit the crowded area near downtown. At least seven people were killed and 37 wounded, according to Lebanon's Health Ministry. Israel also struck a building in Beirut's bustling commercial district of Hamra for the first time, hitting a site around 400 meters (yards) from Lebanon’s Central Bank. There were no reports of casualties. The Israeli military said it struck targets linked to Hezbollah's financial arm. The evacuation warnings covered many areas, including parts of Beirut that previously were not targeted. The warnings sent residents fleeing. Traffic was gridlocked, with mattresses tied to some cars. Dozens of people, some wearing pajamas, gathered in a central square, huddling under blankets or standing around fires as Israeli drones buzzed overhead. Israeli military spokesman Avichay Adraee issued evacuation warnings for 20 buildings in Beirut's southern suburbs, where Hezbollah has a major presence, as well as a warning for the southern town of Naqoura where the U.N. peacekeeping mission, UNIFIL, is headquartered. UNIFIL spokesperson Andrea Tenenti said peacekeepers will not evacuate. Israeli forces reach Litani River in southern Lebanon The Israeli military also said its ground troops clashed with Hezbollah forces and destroyed rocket launchers in the Slouqi area on the eastern end of the Litani River, a few miles from the Israeli border. Under the ceasefire deal, Hezbollah would be required to move its forces north of the Litani, which in some places is about 20 miles north of the border. Hezbollah began firing into northern Israel on Oct. 8, 2023, saying it was showing support for the Palestinians, a day after Hamas carried out its attack on southern Israel, triggering the Gaza war. Israel returned fire on Hezbollah, and the two sides have exchanged barrages ever since. Israel escalated its bombardment in mid-September and later sent troops into Lebanon, vowing to put an end to Hezbollah fire so tens of thousands of evacuated Israelis could return to their homes. More than 3,760 people have been killed by Israeli fire in Lebanon the past 13 months, many of them civilians, according to Lebanese health officials. The bombardment has driven 1.2 million people from their homes. Israel says it has killed more than 2,000 Hezbollah members. Hezbollah fire has forced some 50,000 Israelis to evacuate in the country’s north, and its rockets have reached as far south in Israel as Tel Aviv. At least 75 people have been killed, more than half of them civilians. More than 50 Israeli soldiers have died in the ground offensive in Lebanon. Chehayeb and Mroue reported from Beirut and Federman from Jerusalem. Associated Press reporters Lujain Jo and Sally Abou AlJoud in Beirut and Aamer Madhani in Washington contributed.50 EH/s expansion accelerated to H1 2025 Focused on alternative funding instruments Potential for investor distributions in 2025 Transition to U.S. domestic issuer SYDNEY, Nov. 26, 2024 (GLOBE NEWSWIRE) -- IREN IREN (together with its subsidiaries, "IREN" or "the Company"), today reported its financial results for the first quarter ended September 30, 2024. All $ amounts are in United States Dollars ("USD") unless otherwise stated. "We are pleased to report our Q1 FY25 results and reiterate our focus on low-cost Bitcoin mining, operating cashflows and shareholder returns," said Daniel Roberts, Co-Founder and Co-CEO of IREN. "We are just weeks away from achieving our 31 EH/s milestone and are excited to announce the acceleration of our growth trajectory to 50 EH/s in H1 2025, which was previously H2 2025. Our funding program is focused on alternative funding instruments and the strong operating cashflows we expect to generate enhances our flexibility to support potential distributions in 2025." Business Update Bitcoin Mining 21 EH/s installed, on-track for 31 EH/s next month Accelerating expansion to 50 EH/s in H1 2025 Previously H2 2025 Single site expansion at Childress S21 Pro miners previously secured (fixed price, $18.9/TH) Institutional-grade mining exposure Vertically integrated, large scale and low-cost producer ~$29k all-in cash cost per Bitcoin 1 Non-HODL approach and prudent capital stewardship through the cycle Commitment to 100% renewable energy, supporting energy grids and local communities AI/HPC Update AI Cloud Services 1,896 NVIDIA H100 & H200 GPUs Focus on measured growth, only in response to customer demand Other Continuing to advance negotiations with parties on a range of structures in relation to IREN sites – any transaction would need to reflect strategic value of IREN assets Installing liquid cooling infrastructure at Childress and Prince George to support NVIDIA Blackwell GPUs Power & Land IREN 1.4GW Sweetwater site located 60 miles from Abilene, Texas Procurement underway to support IREN-owned 1.4GW substation energization by April 2026 Construction planning for multiple pathways Continuing to prioritize development activities for >1GW pipeline Corporate & Funding Focused on alternative funding instruments Strong operating cashflows to support potential investor distributions in 2025 Transition to U.S. domestic issuer status in 2025 (including U.S. GAAP reporting) The Q1 FY25 Results webcast will be recorded, and the replay will be accessible shortly after the event at https://iren.com/investor/events-and-presentations First Quarter FY25 Results Bitcoin mining revenue of $49.6 million, as compared to $54.3 million in Q4 FY24, driven by increase in network difficulty and lower Bitcoin prices, offset by growth in operating hashrate during the month of September 2024 28% increase in AI Cloud Services revenue of $3.2 million, as compared to $2.5 million in Q4 FY24, driven by revenue for additional GPU's commissioned in April 2024 Adjusted EBITDA of $2.6 million, as compared to $12.2 million in Q4 FY24 2 813 Bitcoin mined, as compared to 821 Bitcoin in Q4 FY24, driven primarily by increase in network difficulty and halving event in Q4 FY24 Net electricity costs 3 of $28.7 million, as compared to $24.1 million in Q4 FY24, primarily driven by an increase in operating capacity Successful transition to spot electricity pricing at Childress from August 1, 2024 One-off cost of $7.2 million to close out August and September 2024 hedges Other costs of $21.4 million, as compared to $20.5 million in Q4 FY24 4 Reflects a business today that is delivering significant growth, and projecting continued expansion over the coming years Includes $2.7 million provision for Canadian non-refundable sales tax, as compared to $2.0 million in Q4 FY24. Net loss after income tax of $51.7 million, as compared to a loss of $27.1 million in Q4 FY24 Q1 FY25 Operating cash outflow of $3.8 million, as compared to cash inflow of $4.8 million in Q4 FY24 Cash and cash equivalents of $98.6 million as of September 30, 2024 and no debt facilities, increasing to $182.4 million as of October 31, 2024 5 Assumptions and Notes All-in cash cost per Bitcoin at 31 EH/s reflects total net electricity costs, overheads and Renewable Energy Certificate (REC) cash costs and includes benefit of $32m illustrative contribution from AI Cloud Services, on a per Bitcoin mined basis. Calculations assume hardware operates at 100% uptime, nameplate fleet efficiency of 15 J/TH, weighted average power cost of $0.036, overheads of $81m, REC costs of $9m, power consumption of 484MW, network hashrate of 732 EH/s, block reward of 3.125 BTC per block, transaction fees of 0.1 BTC per block, pool fees of 0.15%. $32m illustrative contribution from AI Cloud Services calculated as illustrative revenue less assumed electricity costs (excludes all other site, overhead and REC costs) and assumes hardware is fully utilized by customers and operating at 100% uptime, 1.25kW power draw per GPU, $0.045/kWh electricity costs and $2.00 per GPU hour revenue assumption. REC costs at 31 EH/s assume $3/MWh pricing based on historical purchases. Weighted average power cost assumption reflects $0.045/kWh costs in British Columbia and $0.0325/kWh costs in Texas - latter in line with actual net electricity costs of $0.031, $0.032 and $0.0306 in Aug, Sep and Oct 2024, respectively. Historical power prices achieved and power price assumptions may or may not materialize in the future. This press release should be read strictly in conjunction with the forward-looking statements disclaimer on page 6. EBITDA and Adjusted EBITDA are non-IFRS metrics. See page 4 for a reconciliation to the nearest IFRS metric. Net electricity cost is a non-IFRS metric. See page 5 for a reconciliation to the nearest IFRS metric. Other costs exclude one-off other expense items. See page 4 for a reconciliation to the nearest IFRS metric. Reflects USD equivalent, unaudited cash and cash equivalents as of September 30, 2024 and October 31, 2024 respectively. Non-IFRS metric reconciliation Adjusted EBITDA Reconciliation (USD$m) 1 3 months ended Sep 30, 2024 3 months ended June 30, 2024 Bitcoin mining revenue 49.6 54.3 AI cloud service revenue 3.2 2.5 Net electricity costs 2 (28.7) (24.1) Other costs 3 (21.4) (20.5) Adjusted EBITDA 2.6 12.2 Adjusted EBITDA Margin 5 % 21 % Reconciliation to consolidated statement of profit or loss Add/(deduct): Unrealized loss on financial asset - (2.1) Share-based payment expense - $75 exercise price options (3.1) (2.9) Share-based payment expense - other (5.1) (3.1) Impairment of assets (9.5) - Foreign exchange loss 1.2 (7.0) Gain on disposal of property, plant and equipment 0.8 0.0 Other expense items 4 (5.6) (0.1) EBITDA (18.6 ) (3.0 ) Finance expense (0.1) (0.1) Interest income 2.3 3.0 Depreciation (34.0) (26.8) Loss before income tax expense for the period (50.4 ) (26.9 ) Income tax expense (1.3) (0.2) Loss after income tax expense for the period (51.7 ) (27.1 ) 1) For further detail, see our unaudited interim financial statements for the period ended September 30, 2024, included in our Form 6-K filed with the SEC on November 26, 2024. 2) Net electricity cost is a non-IFRS metric. See below table for a reconciliation to the nearest IFRS metric. 3) Other costs include employee benefits expense, professional fees, site expenses, Renewable Energy Certificates (RECs) and other operating expenses excluding one-off other expenses. 4) Other expense items include, a one-off liquidation payment incurred in August 2024 resulting from the transition to spot pricing at the Group's site at Childress, the reversal of the unrealized loss recorded on fixed price contracted amounts outstanding at June 30, 2024, professional fees incurred in relation to the securities class action and loss due to theft of mining hardware in transit. Reconciliation of Electricity charges to Net electricity costs (USD$m) 3 months ended Sep 30, 2024 3 months ended June 30, 2024 Electricity charges (29.8) (25.7) Add/(deduct) the following: - Realized gain/(loss) on financial asset (4.2) 1.0 One off liquidation payment (included in Realized gain/(loss) on financial asset) 1 7.2 - Reversal of unrealized loss (included in Realized gain/(loss) on financial asset) 2 (3.4) - ERS revenue (included in Other income) 1.6 0.6 ERS fees (included in Other operating expenses) (0.1) (0.0) Net electricity costs 3 (28.7 ) (24.1 ) 1) One-off liquidation payment includes the amount paid to exit positions previously entered into under a fixed price and fixed quantity contract, on transition to a spot price and actual usage contract. 2) Reversal of unrealized loss is calculated as the unrealized loss on financial asset as at June 30, 2024. 3) Net electricity costs exclude the cost of RECs. 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 and to diversify and expand into the market for high performance computing ("HPC") solutions it may offer (including the market for AI Cloud 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); 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) 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); 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 other counterparties; the risk that any current or future customers, including customers of its HPC solutions (including AI Cloud 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) 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) 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 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 (such as COVID-19) 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, 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 U.S. domestic issuers; 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 www.sec.gov and the Investor Relations section of IREN's website at https://investors.iren.com . 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. Non-IFRS Financial Measures This press release includes non-IFRS financial measures, including Net electricity costs, Adjusted EBITDA and Adjusted EBITDA Margin. 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 Net electricity costs, Adjusted EBTIDA and Adjusted EBITDA Margin. 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. EBITDA is calculated as our IFRS profit/(loss) after income tax expense, excluding interest income, finance expense and non-cash fair value loss and interest expense on hybrid financial instruments, income tax expense, depreciation and amortization, which are important components of our IFRS profit/(loss) after income tax expense. Further, "Adjusted EBITDA" also excludes share-based payments expense, which is an important component of our IFRS profit/(loss) after income tax expense, foreign exchange gains and losses, impairment of assets, certain other non-recurring income, loss on disposal of property, plant and equipment, gain on disposal of subsidiaries, unrealized fair value gains and losses on financial assets and certain other expense items. Net electricity costs is calculated as our IFRS Electricity charges net of Realized gain/(loss) on financial asset, ERS revenue (included in Other income) and ERS fees (included in Other operating expenses), and excludes the cost of Renewable Energy Certificates (RECs). About IREN IREN is a leading data center business powering the future of Bitcoin, AI and beyond utilizing 100% renewable energy. Bitcoin Mining: providing security to the Bitcoin network, expanding to 50 EH/s in H1 2025. Operations since 2019. AI Cloud Services: providing cloud compute to AI customers, 1,896 NVIDIA H100 & H200 GPUs. Operations since 2024. Next-Generation Data Centers : 360MW of operating data centers, expanding to 810MW in H1 2025. Specifically designed and purpose-built infrastructure for high-performance and power-dense computing applications. Technology : technology stack for performance optimization of AI Cloud Services and Bitcoin Mining operations. Development Portfolio: 2,310MW of grid-connected power secured across North America, >1,000 acre property portfolio and additional development pipeline. 100% Renewable Energy (from clean or renewable energy sources or through the purchase of RECs) : targets sites with low-cost & underutilized renewable energy, and supports electrical grids and local communities. Contacts Media Investors Jon Snowball Sodali & Co +61 477 946 068 Lincoln Tan IREN +61 407 423 395 lincoln.tan@iren.com Danielle Ghigliera Aircover Communications +1 510 333 2707 To keep updated on IREN's news releases and SEC filings, please subscribe to email alerts at https://iren.com/investor/ir-resources/email-alerts . © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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