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IREN Ltd | 6-K: Report of foreign private issuer (related to financial reporting)

SEC ·  Mar 20 10:49

Summary by Moomoo AI

Iris Energy announced on March 20, 2025, that it will restate its financial statements for fiscal years 2022-2024 and recent quarterly reports, following an SEC review. The restatement involves reclassifying proceeds from Bitcoin mining sales as investing activities rather than operating activities in cash flow statements, in accordance with IAS 7.16(b).The company emphasized that these changes are purely classificatory and do not impact its consolidated statements of profit or loss, financial position, changes in equity, or cash equivalents for any period. The restatement is not related to any operational or business performance changes.Iris Energy plans to revert to classifying Bitcoin mining proceeds as operating activities once it transitions to U.S. GAAP reporting in 2025 as part of its conversion to U.S. domestic filer status. The company has filed detailed restatement information in its Form 20-F/A and Form 6-K/A documents.
Iris Energy announced on March 20, 2025, that it will restate its financial statements for fiscal years 2022-2024 and recent quarterly reports, following an SEC review. The restatement involves reclassifying proceeds from Bitcoin mining sales as investing activities rather than operating activities in cash flow statements, in accordance with IAS 7.16(b).The company emphasized that these changes are purely classificatory and do not impact its consolidated statements of profit or loss, financial position, changes in equity, or cash equivalents for any period. The restatement is not related to any operational or business performance changes.Iris Energy plans to revert to classifying Bitcoin mining proceeds as operating activities once it transitions to U.S. GAAP reporting in 2025 as part of its conversion to U.S. domestic filer status. The company has filed detailed restatement information in its Form 20-F/A and Form 6-K/A documents.
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