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5jili Stonehenge built to unite native Britons after influx of European migrants, researchers suggestJonah Goldberg Among elites across the ideological spectrum, there's one point of unifying agreement: Americans are bitterly divided. What if that's wrong? What if elites are the ones who are bitterly divided while most Americans are fairly unified? History rarely lines up perfectly with the calendar (the "sixties" didn't really start until the decade was almost over). But politically, the 21st century neatly began in 2000, when the election ended in a tie and the color coding of electoral maps became enshrined as a kind of permanent tribal color war of "red vs. blue." Elite understanding of politics has been stuck in this framework ever since. Politicians and voters have leaned into this alleged political reality, making it seem all the more real in the process. I loathe the phrase "perception is reality," but in politics it has the reifying power of self-fulfilling prophecy. People are also reading... Like rival noble families in medieval Europe, elites have been vying for power and dominance on the arrogant assumption that their subjects share their concern for who rules rather than what the rulers can deliver. Gobble up these 14 political cartoons about Thanksgiving In 2018, the group More in Common published a massive report on the "hidden tribes" of American politics. The wealthiest and whitest groups were "devoted conservatives" (6%) and "progressive activists" (8%). These tribes dominate the media, the parties and higher education, and they dictate the competing narratives of red vs. blue, particularly on cable news and social media. Meanwhile, the overwhelming majority of Americans resided in, or were adjacent to, the "exhausted majority." These people, however, "have no narrative," as David Brooks wrote at the time. "They have no coherent philosophic worldview to organize their thinking and compel action." Lacking a narrative might seem like a very postmodern problem, but in a postmodern elite culture, postmodern problems are real problems. Listen now and subscribe: Apple Podcasts | Spotify | Stitcher | RSS Feed | SoundStack | All Of Our Podcasts It's worth noting that red vs. blue America didn't emerge ex nihilo. The 1990s were a time when the economy and government seemed to be working, at home and abroad. As a result, elites leaned into the narcissism of small differences to gain political and cultural advantage. They remain obsessed with competing, often apocalyptic, narratives. That leaves out most Americans. The gladiatorial combatants of cable news, editorial pages and academia, and their superfan spectators, can afford these fights. Members of the exhausted majority are more interested in mere competence. I think that's the hidden unity elites are missing. This is why we keep throwing incumbent parties out of power: They get elected promising competence but get derailed -- or seduced -- by fan service to, or trolling of, the elites who dominate the national conversation. There's a difference between competence and expertise. One of the most profound political changes in recent years has been the separation of notions of credentialed expertise from real-world competence. This isn't a new theme in American life, but the pandemic and the lurch toward identity politics amplified distrust of experts in unprecedented ways. This is a particular problem for the left because it is far more invested in credentialism than the right. Indeed, some progressives are suddenly realizing they invested too much in the authority of experts and too little in the ability of experts to provide what people want from government, such as affordable housing, decent education and low crime. The New York Times' Ezra Klein says he's tired of defending the authority of government institutions. Rather, "I want them to work." One of the reasons progressives find Trump so offensive is his absolute inability to speak the language of expertise -- which is full of coded elite shibboleths. But Trump veritably shouts the language of competence. I don't mean he is actually competent at governing. But he is effectively blunt about calling leaders, experts and elites -- of both parties -- stupid, ineffective, weak and incompetent. He lost in 2020 because voters didn't believe he was actually good at governing. He won in 2024 because the exhausted majority concluded the Biden administration was bad at it. Nostalgia for the low-inflation pre-pandemic economy was enough to convince voters that Trumpian drama is the tolerable price to pay for a good economy. About 3 out of 4 Americans who experienced "severe hardship" because of inflation voted for Trump. The genius of Trump's most effective ad -- "Kamala is for they/them, President Trump is for you" -- was that it was simultaneously culture-war red meat and an argument that Harris was more concerned about boutique elite concerns than everyday ones. If Trump can actually deliver competent government, he could make the Republican Party the majority party for a generation. For myriad reasons, that's an if so big it's visible from space. But the opportunity is there -- and has been there all along. Catch the latest in Opinion

Article content EDMONTON — Tre Ford not only has a new contract, he finally has a vote of confidence from the Edmonton Elks. The quarterback from Niagara Falls, Ont., met with the media at Commonwealth Stadium on Monday, three days after signing three-year deal with the Elks. “Clearly, this is the young man that we want leading our team moving forward,” Elks general manager, Ed Hervey said. “For all the things you’ve seen on the field, there’s so much off the field that he’s going to shoulder moving forward with this organization, especially with the long line of quarterbacks that have played here. This is an opportunity that we feel as an organization is well deserved.” The message from Hervey and head coach Mark Kilam was clear. The No. 1 job in Edmonton’s is now Ford’s to lose, not to win back. Since the end of the 2024 season, the Elks have brought in new president Chris Morris and added Hervey and Kilam. The house has been cleaned. The Elks made Ford a first-round draft pick in 2022. Since then, Ford has regularly been part of quarterback controversies in Edmonton. He’s been on many highlight reels, with his ability to scramble and improvise and use both his legs and arm to make big plays. But he was always on a short leash, no matter if it was Chris Jones or Jarious Jackson, who both coached Ford. “I think there’s been good things and bad things,” Ford said of his first three years with the franchise. “I think that happens with every professional sport. But, I think it’s done a good job of keeping me level-headed — not to get too high or too low. There’s going to be good things and bad things, it’s all about how you’re going to react to them and adjust.” Ford started 10 games in 2023, threw for 2,069 yards and rushed for 622 more. He became a fan favourite. But Jones signed veteran McLeod Bethel-Thompson to be the new starter in 2024, and relegated Ford to carrying a clipboard. “We want Tre!” was a chant regularly heard at Commonwealth Stadium in 2024 as the team got off to an 0-7 start. Ford got the job back, got hurt, didn’t get the job back when he was healthy, but then got a chance to play again once the Elks were out of the playoff picture. He threw for 1,137 yards and rushed for another 206. “Yeah, there were some things that were not so great. But it’s all behind me, now,” Ford said. The Elks have not made the playoffs since 2019. Ford is now the face of the franchise, but he knows that he has to work to repay the faith that the team’s new front office has placed in him. “The opportunity is right in front of me,” he said. “I have to be able to take full advantage of that in being able to grasp that opportunity, right? I need to take that next step as a leader and be that role model for my teammates, and go in the direction we want to go.” Kilam, who was an assistant with the Calgary Stampeders before taking over as Elks head coach, has faced Ford in the past. “It’s no question that Tre puts a ton of pressure on every defence that he plays,” Kilam said. “Sometimes, he gets mislabelled that he’s only using his legs. But he’s using his legs to open up the passing game.” Ford will remain in Edmonton in the off-season to work out and learn the new coaching staff’s system. He and his wife, Ani, are expecting their second child later this winter. Hervey and Kilam have preached that the new Elks philosophy will lean on the days when the team was the Cadillac franchise of the CFL. There will be roster stability. There will be accountability. And Ford’s words suggest that he’s buying in. “I feel like they are doing things the right way,” Ford said. “And I am confident they’re going to bring in the correct guys, talented guys who are capable of winning football games. A lot of that turnover happens when you lose. But I think we’re in a situation where we’re leaning more towards winning.”

Jimmy Carter: A Legacy Beyond the Presidency

Vaccination expansion crucial to boost health outcomesJimmy Carter , the 39th President of the United States, has died at 100. The longest-living president in U.S. history died almost two years after entering hospice care in his Georgia home in lieu of continued medical intervention for his various health issues. Carter was a one-term but popular president, holding office from 1977-1981, and was unseated by Ronald Reagan. The former Commander in Chief’s nonprofit organization announced he was entering hospice care in February 2023. “After a series of short hospital stays, former U.S. President Jimmy Carter decided to spend his remaining time at home with his family and receive hospice care instead of additional medical intervention,” the February 18 Twitter announcement read. “He has the full support of his family and his medical team. The Carter family asks for privacy during this time and is grateful for the concern shown by his many admirers.” Carter had undergone multiple hospital stints in recent years for various health issues, such as melanoma and several falls. On August 2, 2015, Carter underwent surgery to remove a small cancerous mass in his liver, and he recovered easily. However, the procedure revealed further health complications. On August 11, 2015, it was announced that the cancer had spread to other parts of Carter’s body. In an August 20, 2015 press conference, his doctor revealed the melanoma had spread to four parts of his brain. Hulton Archive/Getty Images The politician-turned-humanitarian had a history of cancer in his family. Carter’s parents and three siblings (two sisters and a brother) all died of different forms of cancer. His mother died of breast cancer; his father and siblings all died of pancreatic cancer. Age 90 at the time of his melanoma diagnosis, Carter believed he was nearing the end of his life but was at peace. “I just thought I had a few weeks left, but I was surprisingly at ease,” he said at the time, per ABC News . “I’ve had a wonderful life. I have thousands of friends...so I was surprisingly at ease, much more so than my wife was.” The former president underwent treatment (surgery, radiation therapy, and immunotherapy) to “extend” his life as much as possible. The treatment was successful, with Carter announcing in March 2016 that doctors stopped his treatment. Carter was hospitalized again the next year for dehydration due to building homes for Habitat for Humanity in Winnipeg, Canada. He was back at work on the homes the next day after some hours of observation. In May 2019, Carter broke his hip in a fall on his way out of his Plains, Georgia, home to go turkey hunting. He had a hip replacement a few days later and suffered another fall in October 2016, needing stitches over one of his eyebrows. In November 2019, he underwent surgery to address pressure in his brain caused by bleeding from the falls and recovered fine. Carter first served as a Georgia senator from 1963 to 1967 and then served as the 76th governor of Georgia from 1971 to 1975. He beat incumbent President Gerald Ford in the 1976 presidential election. The 2002 Nobel Peace Prize winner sought to make the government “competent and compassionate” during his tenure. His accomplishments as president include creating the Department of Education, bolstering the Social Security system, hiring a record number of minority groups in government jobs, and protecting/improving the environment. Part of that effort was successfully adding 103 million acres of Alaskan land to the national park system. Carter was determined to see the U.S. switch from fossil fuel to clean energy with renewable resources. To that end, he had 32 solar panels installed on the roof of the West Wing in the summer of 1979, hoping to set an example for the future of renewable energy. The panels were used for seven years before Reagan had them removed. While he had notable accomplishments, rising energy costs, mounting inflation, and continuing tensions made it difficult for Carter to meet the high expectations he set for his administration. He shepherded in nearly eight million new jobs and a decrease in the budget deficit (per WhiteHouse.org ), but near record-high inflation and interest rates of the time, and the efforts to fix them, triggered a short recession in the economy. In foreign affairs, Carter led the Camp David Accords in 1978, a political agreement between Egypt and Israel reached through 12 days of secret negotiations at the President’s Maryland country retreat. His focus on human rights didn’t sit well with the leaders of the Soviet Union and some other nations. He obtained ratification of the Panama Canal treaties, set up diplomatic relations with the People’s Republic of China, and finished the negotiation of the SALT II nuclear limitation treaty with the Soviet Union. Born James Earl Carter, Jr. on October 1, 1924, Carter’s family ran a peanut farm in Plains, Georgia. Talk of politics and his Baptist faith were tenets of his childhood. He graduated from the Naval Academy in Annapolis, Maryland, in 1946, serving seven years as a naval officer. Carter married his wife, Rosalynn Carter — who died in November 2023 — after graduating from the Academy in 1946. They share three sons, John William (Jack), James Earl III (Chip), Donnel Jeffrey (Jeff), and a daughter, Amy Lynn. Carter became a career politician in 1962 when elected to the Georgia State Senate. After his presidency, Carter focused his public efforts on humanitarian aid. He won the Nobel Peace Prize in 2002 “for his decades of untiring effort to find peaceful solutions to international conflicts, to advance democracy and human rights, and to promote economic and social development.” More Headlines: Jimmy Carter Dies: Longest-Living U.S. President Was 100 Hallmark Alums Tease Reunion in ‘When Hope Calls’ Season 2 and Possible Kiss Dayle Haddon’s Son-in-Law Marc Blucas Spent Years Renovating 1700s House Where She Died The 6 Saddest Scenes in ‘Squid Game’ Season 2 ‘Sister Wives’ Star Meri Brown Debuts ‘Mystery Man’ 2 Years After Kody Brown Split

South Korea’s opposition moves to impeach acting president Acting South Korean President and Prime Minister Han Duck-soo delivers an address to the nation at the government complex in Seoul, South Korea, December 14, 2024. — Reuters SEOUL: South Korea ́s opposition said on Thursday it filed an impeachment motion against acting president Han Duck-soo, in an escalating row over the composition of the Constitutional Court which would decide whether to remove his predecessor from office. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1700472799616-0'); }); South Korea fell in a political crisis when President Yoon Suk Yeol, currently suspended, declared martial law on December 3. Yoon was stripped of his duties by parliament on December 14 over the dramatic declaration, but a constitutional court ruling upholding the decision by lawmakers is necessary to complete the impeachment process. The court is however currently short of three judges. While it can go ahead with its six members on the bench, a single dissenting vote would reinstate Yoon. The opposition wants Han to approve three more nominees to fill the 9-member bench, something that he has so far refused to do, essentially leaving both sides in a deadlock. The opposition Democratic Party therefore says the acting president should be impeached too. “We have filed the motion... and will report it to the plenary session today,” MP Park Sung-joon told reporters at the National Assembly of the action against Han. “We will put it to a vote tomorrow.”WASHINGTON (AP) — One year after the Jan. 6, 2021 , U.S. Capitol attack, Attorney General Merrick Garland said the Justice Department was committed to holding accountable all perpetrators “at any level” for “the assault on our democracy.” That bold declaration won't apply to at least one person: Donald Trump. Special counsel Jack Smith's move on Monday to abandon the federal election interference case against Trump means jurors will likely never decide whether the president-elect is criminally responsible for his attempts to cling to power after losing the 2020 campaign. The decision to walk away from the election charges and the separate classified documents case against Trump marks an abrupt end of the Justice Department’s unprecedented legal effort that once threatened his liberty but appears only to have galvanized his supporters. Javascript is required for you to be able to read premium content. Please enable it in your browser settings. Get any of our free email newsletters — news headlines, obituaries, sports, and more.

Drop in Boxing Day footfall ‘signals return to declining pre-pandemic levels’

By TRÂN NGUYỄN SACRAMENTO, Calif. (AP) — California, home to some of the largest technology companies in the world, would be the first U.S. state to require mental health warning labels on social media sites if lawmakers pass a bill introduced Monday. The legislation sponsored by state Attorney General Rob Bonta is necessary to bolster safety for children online, supporters say, but industry officials vow to fight the measure and others like it under the First Amendment. Warning labels for social media gained swift bipartisan support from dozens of attorneys general, including Bonta, after U.S. Surgeon General Vivek Murthy called on Congress to establish the requirements earlier this year, saying social media is a contributing factor in the mental health crisis among young people. “These companies know the harmful impact their products can have on our children, and they refuse to take meaningful steps to make them safer,” Bonta said at a news conference Monday. “Time is up. It’s time we stepped in and demanded change.” State officials haven’t provided details on the bill, but Bonta said the warning labels could pop up once weekly. Up to 95% of youth ages 13 to 17 say they use a social media platform, and more than a third say that they use social media “almost constantly,” according to 2022 data from the Pew Research Center. Parents’ concerns prompted Australia to pass the world’s first law banning social media for children under 16 in November. “The promise of social media, although real, has turned into a situation where they’re turning our children’s attention into a commodity,” Assemblymember Rebecca Bauer-Kahan, who authored the California bill, said Monday. “The attention economy is using our children and their well-being to make money for these California companies.” Lawmakers instead should focus on online safety education and mental health resources, not warning label bills that are “constitutionally unsound,” said Todd O’Boyle, a vice president of the tech industry policy group Chamber of Progress. “We strongly suspect that the courts will set them aside as compelled speech,” O’Boyle told The Associated Press. Victoria Hinks’ 16-year-old daughter, Alexandra, died by suicide four months ago after being “led down dark rabbit holes” on social media that glamorized eating disorders and self-harm. Hinks said the labels would help protect children from companies that turn a blind eye to the harm caused to children’s mental health when they become addicted to social media platforms. “There’s not a bone in my body that doubts social media played a role in leading her to that final, irreversible decision,” Hinks said. “This could be your story.” Common Sense Media, a sponsor of the bill, said it plans to lobby for similar proposals in other states. California in the past decade has positioned itself as a leader in regulating and fighting the tech industry to bolster online safety for children. The state was the first in 2022 to bar online platforms from using users’ personal information in ways that could harm children. It was one of the states that sued Meta in 2023 and TikTok in October for deliberately designing addictive features that keep kids hooked on their platforms. Gov. Gavin Newsom, a Democrat, also signed several bills in September to help curb the effects of social media on children, including one to prohibit social media platforms from knowingly providing addictive feeds to children without parental consent and one to limit or ban students from using smartphones on school campus. Federal lawmakers have held hearings on child online safety and legislation is in the works to force companies to take reasonable steps to prevent harm. The legislation has the support of X owner Elon Musk and the President-elect’s son, Donald Trump Jr . Still, the last federal law aimed at protecting children online was enacted in 1998, six years before Facebook’s founding.

Chris Evans MCU Return Set for Avengers: Doomsday By is officially returning to the , as TheWrap is reporting that the star who played Captain America for over a decade will be in . Who will Chris Evans be in Avengers: Doomsday? Although Evans is reportedly returning to the world of Marvel, it’s unclear whether or not he will be back as Captain America. TheWrap’s report notes that the extent and exact nature of Evans’ appearance is unknown. Famously, Evans said goodbye to the role of Steve Rogers in 2019’s Avengers: Endgame, with the character choosing to stay back in time and grow old with Peggy Carter. Anthony Mackie, who plays Sam Wilson in the MCU, is set to take up the moniker of Captain America in the upcoming , which releases on February 14, 2025. Evans’ return to the MCU has been something that has been rumored for some time now. The actor himself even said he’d be as long as the right thing came up in the past, and now it apparently has. He’ll be joining fellow former MCU member Robert Downey Jr. in the project, with the latter set to play the role of Victor Von Doom, aka Doctor Doom, in the film. Doomsday will also see the return of MCU mainstays The Russo Brothers, with Joe and Anthony . does not have an official release date as of yet, although Marvel Studios has said the film is coming in May 2026. It was previously dated a year prior for May 2, 2025, but joined a as many movies saw rewrites and were impacted by the entertainment industry strikes throughout 2023. The film was previously named Avengers: The Kang Dynasty, but has since been renamed following the . While the plot of the film is unclear, the film will all but certainly focus entirely around Doom, one of the most iconic and well-known villains in comic book history. (Source: ) Anthony Nash has been writing about games and the gaming industry for nearly a decade. When he’s not writing about games, he’s usually playing them. You can find him on Twitter talking about games or sports at @_anthonynash. Share articleFinding great at a price less than $50 sounds almost impossible, but it is entirely possible. This Christmas, if you're on a tight budget, here are some of the best options with high-quality sound—without destroying your wallet. Best Headphones Under $50 Superlux HD681 Evo – Audiophile Quality Without the Price Tag Pros: Cons: The has proven to deserve its popularity and reputation as a high-quality, cost-effective option for audio performance. In terms of soundstage and balanced detail, the HD681 is a winner and a crowd favorite among serious audiophiles. Equipped with replaceable cables and ear pads in pleather and velour, the Evo gives you maximum usage and adjustment. It's ideal if you work with music or play a lot of games that really immerse you. Exceptional sound and comfort make the Superlux HD681 Evo ideal for serious listeners on a budget. 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Your Perfect Budget Headphones Shouldn't Be Expensive You don't have to spend a fortune to enjoy good-quality audio. From the Superlux HD681 Evo's audiophile-grade sound to the Anker Soundcore Life Q20's premium features, these headphones prove that budget-friendly options can still deliver outstanding performance.

NASA Astronaut's Near-Miss with Mysterious Metallic Orbs Stuns Aviation WorldVince Fong: We don’t need Newsom to lecture us. We need him to listen to us.

QB Tre Ford approaches upcoming CFL season armed with Elks’ vote of confidenceAccording to the London St. Thomas Association of Realtors, a series of interest rate cuts helped fuel an increase in home sales last month. “Little bit of pent-up demand. People were waiting to see the sign that the rates were going to stay stable and probably continue to go down a little bit,” said association CEO Bill Madder. According to LSTAR the average sale price of a home in November was $640,198 - reflecting an increase of 5.9 per cent over November, 2023. Six-hundred-forty-one homes changed hands, for an increase of 35.5 per cent year over year, and new listings were up 10.8 per cent year-to-date. Madder said the market is starting to see the effect of cuts to the prime lending rate. “It’s definitely helping. I think there’s probably more response to that to come yet,” he speculated. Bill Madder, CEO London St. Thomas Real Estate Association (Bryan Bicknell/CTV News London) Madder said sellers still have an advantage in the current market, but the interest rate cut helps bring more balance. “If we compare to 2020-2021, that was clearly a benefit to the sellers. Now I think there’s probably a little more balance in our market.” The Bank of Canada is expected to cut the interest rate once more this year. Shopping Trends The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop. Read about us. Editor's Picks 20 Brilliant Gift Ideas Under $75 15 Gifts That'll Pry Their Eyes Away From Screens For A Bit 19 Of The Best Stocking Stuffers For Teenagers Home Our Guide To The Best Sectional Sofas You Can Get In Canada Our Guide To The Best Electric Snow Shovels In Canada In 2024 (And Where To Get Them) Our Guide To The Best Hydroponic Gardens In Canada In 2024 (And Where To Get Them) Gifts 21 Stocking Stuffers Under $5 For Everyone On Your List (And They're All From Amazon Canada) 19 Practical Gifts That Anyone Would Love To Unwrap Our Guide To The Most Giftable Toys In 2024 Beauty Our Guide To The Best Self Tanners You Can Get In Canada 20 Anti-Aging Skincare Products That Reviewers Can’t Stop Talking About 12 Budget-Friendly Makeup Brushes And Tools Worth Adding To Your Kit Deals Black Friday May Be Over, But You Can Still Take Advantage Of These Amazing Sales On Amazon Canada It's Officially Travel Tuesday: Here Are The Best Deals On Flights, Hotels, And Vacations The Waterpik Advanced Water Flosser Will Make Cleaning Your Teeth So Much Easier — And It's 40% Off For Cyber Monday London Top Stories Another blast of snow is expected to roll through on Thursday Pedestrian struck in northeast London Interest rate cut fuels increase in home sales: London-St. Thomas Association of Realtors Two people sent to hospital, cats rescued from London house fire Transport Minister to summon airline CEOs as Air Canada set to charge carry-on fees for some passengers Sarnia police identify victim of weekend stabbing death Boler Mountain hopes to debut multi-million-dollar expansion at opening next week 'It was a hidden gem in the county': St. Thomas patients look for alternate solutions as STEGH therapy pool remains closed CTVNews.ca Top Stories LIVE @ 4:30 P.M. PT | Downtown Vancouver stabbing suspect dead after being shot by police A suspect is dead after being shot by police in a Vancouver convenience store after two people were injured in a stabbing Wednesday morning, according to authorities. DEVELOPING | As police search for suspect, disturbing video surfaces after U.S. health-care CEO gunned down in New York UnitedHealthcare CEO Brian Thompson was killed Wednesday morning in what investigators suspect was a targeted shooting outside a Manhattan hotel where the health insurer was holding an investor conference. 'Utterly absurd': Freeland rebuffs Poilievre's offer of two hours to present fall economic statement Deputy Prime Minister and Finance Minister Chrystia Freeland has rebuffed Conservative Leader Pierre Poilievre's offer to give up two hours of scheduled opposition time next Monday to present the awaited fall economic statement as 'utterly absurd.' Transport Minister to summon airline CEOs as Air Canada set to charge carry-on fees for some passengers Transport Minister Anita Anand says she will be calling Canadian airline CEOs to a meeting in mid-December after Air Canada says it will charge some passengers for carry-on bags in the new year. Canada's new public-sector payment system is still years away from being implemented After half a decade of testing and an investment of nearly $300 million, the federal government is still years away from fully implementing its next-generation pay and human resource cloud platform to replace the problem-plagued Phoenix payroll system. WATCH: Suspects armed with hammers hit Markham jewelry store Six suspects are in custody in connection with a smash-and-grab robbery at a jewelry store in a Markham mall that was captured on video. Why are some Canada Post outlets still open during CUPW strike? As many postal workers continue to strike across the country, some Canadians have been puzzled by the fact some Canada Post offices and retail outlets remain open. French government toppled in historic no-confidence vote French opposition lawmakers brought the government down on Wednesday, throwing the European Union's second-biggest economic power deeper into a political crisis that threatens its capacity to legislate and rein in a massive budget deficit. Woman who stowed away on plane to Paris is back on U.S. soil A Russian woman who stowed away on a Delta Air Line flight from New York to Paris last week has returned stateside Wednesday. Kitchener Waterloo Regional Police recover 52 vehicles from chop shop in North Dumfries, Ont. A chop shop in North Dumfries, Ont. has been dismantled after police found 52 stolen vehicles. Rescue of three boys from Cambridge pond prompts safety plea from officials Three 13-year-old boys fell through the ice at a Cambridge pond on Tuesday. We spoke to the Lifesaving Society of Ontario about how to stay safe on and in the water this winter. Transport Minister to summon airline CEOs as Air Canada set to charge carry-on fees for some passengers Transport Minister Anita Anand says she will be calling Canadian airline CEOs to a meeting in mid-December after Air Canada says it will charge some passengers for carry-on bags in the new year. Barrie Georgian College faces job cuts, dwindling enrolment amid international student cap Growing deficits, layoffs and far fewer enrolment numbers are forcing colleges and universities across the province to make tough decisions in the wake of Ottawa's cap on international students. 17-year-olds arrested with loaded gun, drugs in Barrie, police say Police in Barrie say two teens were arrested for having a loaded gun and drugs in their possession. Winter travel advisory issued as Muskoka braces for more snow Muskoka is in for more snow after a major dumping over the weekend that caused power outages, downed trees and road closures. Windsor Rising profits or closing brick and mortar stores: the impact of the ongoing Canada Post strike Most local businesses have found alternative ways to ship their products to customers during the Canada Post Strike. Mourning the loss of dramatic arts program, UWindsor students turn grief into performing arts piece Following budget cuts resulting in no theatre company like the University Players to rely on anymore, dramatic arts students were devastated. 'Hollywood Holidays' celebrates Christmas flicks at the Chrysler Theatre St. Clair College student-performers are spreading Christmas cheer as they prep for opening night of their upcoming Hollywood Holidays production. Northern Ontario Family reeling as victim of Sudbury stabbing left paralyzed A GoFundMe has been set up to help support Josee Rouleau, the victim of a stabbing that happened in Chelmsford in Greater Sudbury on Nov. 22. Warm, wet winter expected in much of Canada, say forecasters Federal forecasters expect a warmer-than-normal start to winter in most of Canada, with more precipitation than usual in parts of the country. Transport Minister to summon airline CEOs as Air Canada set to charge carry-on fees for some passengers Transport Minister Anita Anand says she will be calling Canadian airline CEOs to a meeting in mid-December after Air Canada says it will charge some passengers for carry-on bags in the new year. Sault Ste. Marie New addition to the CTV Northern Ontario family The CTV Northern Ontario family got a little bigger Tuesday when longtime anchor Marina Moore and her husband welcomed their second baby into the world. Some Ontario food banks are making cuts, Timmins is not A new report from Feed Ontario indicates food banks in the province have reduced the amount of food they provide, but the situation is not as bleak in Timmins. Northern Ont. MPP calls for increased winter training for truckers A Member of Provincial Parliament (MPP) from northern Ontario presented a bill at Queen’s Park calling for increased winter driving training for truckers. Ottawa Protester disrupts City of Ottawa information session about Sprung structure A man wearing a t-shirt that said "No tent in Ottawa" disrupted a City of Ottawa info session about the proposed Sprung structure that is set to be built along Woodroffe Avenue near the Nepean Sportsplex. WINTER WEATHER TRAVEL ADVISORY | 10 cm of snow in the forecast, OPP urging drivers to drive safely in Ottawa and eastern Ontario Cold temperatures and snow amounting to 10 centimetres are in the forecast for Ottawa this Wednesday. A winter weather travel advisory is in effect and police are asking people to drive safely. Ottawa's chief medical officer Dr. Vera Etches to become head of CHEO Ottawa’s medical officer of health Dr. Vera Etches has been appointed as the president and CEO of the Children's Hospital of Eastern Ontario (CHEO). Toronto WATCH: Suspects armed with hammers hit Markham jewelry store Six suspects are in custody in connection with a smash-and-grab robbery at a jewelry store in a Markham mall that was captured on video. 5 individuals wanted for GTA murders added to Canada’s most-wanted fugitives list Five individuals being sought by police in the GTA have been added to a list of Canada’s most wanted fugitives. Toronto remain under winter weather travel advisory Toronto got its first taste of winter weather Wednesday as a low-pressure system brought snow to the city. Montreal Former Montreal mayor Denis Coderre owes nearly $400K to tax agencies The Canada Revenue Agency is seeking more than $260,000 from former Montreal mayor Denis Coderre in a mortgage recovery filing. Drivers zig-zagging and posting videos in white-lining trend: Quebec prosecutors A Montreal man is facing a criminal charge of dangerous driving after he allegedly posted a video of himself zig-zagging through cars. It's a trend called 'white lining.' Quebec adopts motion on sexual exploitation of minors The Quebec legislature has adopted a motion to denounce a publicly funded organization that promotes 'forms of sexual exploitation of minors,' according to the Parti Québécois (PQ). Atlantic Body found in burned vehicle in Pictou County identified as missing N.S. woman Nova Scotia RCMP has identified the bodies found in a burned vehicle in Pictou County last month as a missing Truro woman and a man from Alberta. A province-by-province look at what to expect from Thursday's storm An early December storm moving across northern New Brunswick Thursday will bring the Maritime provinces a mix of snow, rain, and high wind. Traffic tensions: Halifax Transit patrons and drivers frustrated by delays Halifax Transit patrons and drivers are expressing frustration about long waits and delays. Winnipeg Proposed site for Winnipeg supervised consumption site in the city's core The province’s first supervised consumption site could soon be located along the Disraeli Freeway in Winnipeg. Canadian appears in U.S. court in decades-old cold case Robert Creter made his first court appearance since his extradition to the United States from Winnipeg. He's the prime suspect in the murder of 23-year-old Tami Tignor – a cold case dating back to 1997. 'We want you to enjoy shopping': Winnipeg police stepping up presence at busy retail locations for the holidays When you are doing your holiday shopping this month, you may notice more police officers out and about at some of the biggest shopping areas in Winnipeg. Calgary Former Calgary police officer wanted on Canada-wide warrant Calgary police have issued a Canada-wide warrant for a former officer they say used police resources to contact women he met while on duty. Alberta cattle producers express optimism in wake of Trump's tariff threat Cattle producers in Alberta don't appear to be overly concerned by the threat of tariffs by United States president-elect Donald Trump. Calgary could consider banning retail sale of dogs, cats and rabbits A Calgary committee will consider asking city officials to ban all sales of dogs, cats and rabbits in retail stores. Edmonton Lucy the elephant in good health, but should remain in Edmonton: experts Lucy the elephant is in good health and able to travel – though experts recommend she stays put. Removal of Treaty 6 flag in Barrhead a 'step backwards' for reconciliation: Grand Chief Treaty No. 6 First Nations Grand Chief Cody Thomas says the removal of the Treaty 6 flag in municipalities is a “mistake” and a “step backwards” for reconciliation. Collectors believe stamp hobby will endure despite unclear future of strike-embroiled Canada Post Even with the future of Canada Post in question, given the Crown corporation's mounting financial losses and loss of business due to a strike by postal workers, stamp collectors say they feel their hobby will ride out the uncertainty. Regina 'It's all about tradition': Bushwakker marking 30 years of blackberry mead The ancient art of meadmaking has become a holiday tradition for Regina's Bushwakker Brewpub, marking 30 years of its signature blackberry mead on Saturday. Sask. auditor releases findings on social services’ hotel spending An audit stemming from concerns over government practices of securing hotel rooms for those on social assistance has been released. Residents in Regina, Moose Jaw may notice changes in taste and colour of water Residents in Regina and Moose Jaw may notice some changes in their water as construction continues at the Buffalo Pound Water Treatment Plant. Saskatoon Saskatoon boy, 16, faces first-degree murder charge in death of woman found outside the Copper Mug A 16-year-old boy faces a first-degree murder charge in the case of a woman found dead in an 8th Street parking lot last month. Saskatchewan maintains dismal status as leader in spread of HIV, with no provincial strategy in place Advocates for Saskatchewan’s HIV-positive residents are calling for a provincial strategy to support those living with the virus, and to help stop its spread. "Really heartwarming": Santa's helpers in Saskatchewan help with Christmas letters amidst postal strike With only a few weeks left until Christmas, families are gearing up for the Santa experience with their kids. However, one of the annual traditions - writing letters to Santa - was in jeopardy due to the postal strike. Thanks to some dedicated volunteers, the magic will continue. Vancouver LIVE @ 4:30 P.M. PT | Downtown Vancouver stabbing suspect dead after being shot by police A suspect is dead after being shot by police in a Vancouver convenience store after two people were injured in a stabbing Wednesday morning, according to authorities. Suspect arrested after stabbing sends man to hospital in Surrey, B.C. Police say one man is in custody and another is in hospital after a stabbing Wednesday morning in Surrey, B.C. Early-rising Taylor Swift fans wait for hours in Vancouver for concert gear Taylor Swift fans were up before the sun in Vancouver to snag some coveted shirts, bags and sweaters to mark her record-breaking Eras Tour. Vancouver Island LIVE @ 4:30 P.M. PT | Downtown Vancouver stabbing suspect dead after being shot by police A suspect is dead after being shot by police in a Vancouver convenience store after two people were injured in a stabbing Wednesday morning, according to authorities. Federal minister Harjit Sajjan to attend Taylor Swift concert with taxpayer-funded ticket Harjit Sajjan, the federal minister responsible for the Pacific Economic Development Agency of Canada, will be going to the Eras Tour on taxpayer dollars. Environment Canada warns fog causing near-zero visibility in southwest B.C. Environment Canada is warning travellers that dense fog is creating near-zero visibility in parts of southwestern British Columbia on Wednesday. Stay Connected50 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.

Gov. Gavin Newsom embarked on a public relations tour of Central Valley desperately trying to rebrand his image of being out of touch to hard working Californians who have rejected his agenda. Born and raised in the Central Valley, I’m proud to call this region my home. Unfortunately for Gov. Newsom, our reasons for spurning his policies are grounded in the reality we see and the consequences of his actions. No amount of rhetoric can deflect from the damage we have endured. The challenges we face and the frustration we feel exist through California and have national and global impacts. The list of flawed policies continues to grow but let’s examine a few critical areas. With the energy production of California, the consequences are ever present as Californians endure rising gas prices and energy costs. This reality is a direct result of the actions of the Newsom Administration. Countless permits sit before the governor’s desk that would increase our production of oil and gas to increase affordable energy supplies. Gov. Newsom’s inaction has forced California to import energy from countries that don’t share our interest. Gov. Newsom has intentionally taken steps that have reduced our refining capacity that risks gasoline shortages. His words touting carbon capture are empty ones when his actions limits its use in oil exploration and prevents the needed construction of infrastructure needed for new technology to flourish. The reality of Newsom’s energy agenda is jobs are lost, business have left California, and residents struggle with growing costs. As the food production capital of California, the damage is just as stark. Gov. Newsom’s bureaucracy has limited the flow of water supplies to our businesses, farms and homes. Needed water storage projects languish in red tape and lack of investment. Pest outbreaks occur because inept bureaucrats limiting the use of needed tools to respond. California’s vibrant agriculture industry continues to persevere from the burdens of inaction and bad policies. The result is higher food costs and the loss of critical food products that we consume every single day. Gov. Newsom’s unworkable mandates on trucking, rail and port operations threaten our entire supply chain. Technologically infeasible regulations by the California Air Resource Board (CARB) to force electrification of truck and rail fleets could result in the majority of trucks and locomotives being unable to operate in California. This massive disruption only leads to higher costs for every single Californian. And as our region fights for more highway and road expansion, Gov. Newsom continues to be an obstacle preferring to throw billions of dollars at the mismanaged California High Speed Rail project instead of expanding our rural and urban roads and highways. Related Articles Commentary | The FBI has been political from the start Commentary | A new Legislative session: Time for pocketbook pragmatism Commentary | Climate activists should pivot from costly pipe dreams to realistic solutions Commentary | Privacy agency oversteps authority, jeopardizes California’s opportunity to lead in AI Commentary | Newsom’s wrongheaded special session is a misuse of gubernatorial power We see the rising crime in our neighborhoods resulting from Newsom’s soft on crime approach. We see the fentanyl and human trafficking from his sanctuary state policies. We see businesses and residents leaving California because of the growing burdens of taxes and regulations. Gov. Newsom demonizes our industries and drives jobs away from our neighbors. This is why more and more Californians are waking up saying enough is enough and I look forward to working with the incoming Trump Administration to expand energy production, enhance our water supplies, secure our supply chain, and revitalize our economy. Our communities don’t need a lecture on how to feed and power the state and nation, we need Gov. Newsom to listen and undo his out of touch policies. Vince Fong represents California’s 20th congressional district.COLORADO 73, NO. 2 UCONN 72