06:06 PM EDT, 05/15/2024 (MT Newswires) -- Iris Energy ( IREN ) reported fiscal Q3 EPS Wednesday of $0.077, compared with a loss of $0.057 a year earlier.

Analysts polled by Capital IQ expected earnings of $0.10.

Revenue for the quarter ended March 31 was $54.35 million, up from $16.38 million a year earlier. Analysts surveyed by Capital IQ expected $51.8 million.

Separately, the company filed a shelf registration covering the potential sale of $500 million of ordinary shares, debt securities, warrants, subscription rights, purchase contracts and units from time to time in one or more offerings.

The company said it plans to use the proceeds from any sale for general corporate purposes and other business opportunities.

Iris also said it plans to increase its operating hash rate to 30 exahashes per second in 2024 from current 10 EH/s.

The company shares were down about 10% in recent after-hours activity.

Price: 4.68, Change: -0.52, Percent Change: -10.00