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WASHINGTON — A former FBI informant who is charged with fabricating a multimillion-dollar bribery scheme involving President Joe Biden’s family has been indicted in a new case on federal tax charges. The tax indictment against Alexander Smirnov was unsealed this week in California federal court, months after his arrest on charges that he fabricated a multimillion-dollar bribery scheme involving Joe Biden, his son Hunter and a Ukrainian energy company. The indictment brought by Justice Department special counsel David Weiss charges Smirnov with tax evasion and filing false tax returns, accusing him of concealing millions of dollars of income he earned between 2020 and 2022. Smirnov’s attorneys, David Chesnoff and Richard Schonfeld, said in an email Tuesday that their client “intends to vigorously fight these allegations with the same intensity as he has fought the original indictment.” Smirnov’s trial was recently pushed to Jan. 8 in the case charging him with lying about the Biden family. Smirnov has denied the allegations in that case. Prosecutors have alleged that he falsely reported to the FBI in June 2020 that executives associated with the Ukrainian energy company Burisma paid Hunter Biden and Joe Biden $5 million each in 2015 or 2016. Smirnov told his handler that an executive claimed to have hired Hunter Biden to “protect us, through his dad, from all kinds of problems,” according to court documents. Prosecutors say Smirnov in fact had only routine business dealings with the company in 2017 and made the bribery allegations after he “expressed bias” against Joe Biden while he was a presidential candidate. Hunter Biden is scheduled to be sentenced next month in two separate criminal cases accusing him of a scheme to avoid at least $1.4 million in taxes and lying on a federal form when he bought a gun in 2018.Dibba scores 19 in Southern Illinois' 73-70 win against Southern Indiana
Fortnite leak reveals huge Spider-Verse collab featuring two Spider-Men
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 (NASDAQ: 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 (USD$m) 1 Sep 30, 2024 June 30, 2024 (USD$m) Sep 30, 2024 June 30, 2024 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. Sodali & Co +61 477 946 068 IREN +61 407 423 395 [email protected] Aircover Communications +1 510 333 2707Putin's Men 'Snatch' Storozhove From Ukraine Army; Russian Battle Moves To Velyka Novosilka | Watch Recommended Playlist Putin Shakes Ukraine With Powerful Bombing Campaign; 'Tons Of Explosives Wipe Out Kyiv's Positions' Putin’s ‘Game-Changer’ Weapon Shakes Washington, Pentagon Warns Zelensky Of ‘Nuke-Like’ Strike On... Direct Russia-NATO War In Ukraine For First Time? UK Confirms 'Troops Present' | 'Next We...' 'Kill Russian Civilians': Ukrainian Soldiers Expose Zelensky On Camera, Reveals 'Rapist Hired To...' North Korean Troops Kill 300 Ukrainian Soldiers, Claim 'Liberating' Village In Kursk: Report Pro-Putin Leader Dashes Zelensky's NATO Dreams; Predicts Ukraine's Loss To Russia Ahead Of EU Summit Chechen Warlord's Bone-chilling Warning To Zelensky; 'Won't Let Russia War End Until...' 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By JUAN A. LOZANO, Associated Press HOUSTON (AP) — An elaborate parody appears to be behind an effort to resurrect Enron, the Houston-based energy company that exemplified the worst in American corporate fraud and greed after it went bankrupt in 2001. If its return is comedic, some former employees who lost everything in Enron’s collapse aren’t laughing. “It’s a pretty sick joke and it disparages the people that did work there. And why would you want to even bring it back up again?” said former Enron employee Diana Peters, who represented workers in the company’s bankruptcy proceedings. Here’s what to know about the history of Enron and the purported effort to bring it back. Once the nation’s seventh-largest company, Enron filed for bankruptcy protection on Dec. 2, 2001, after years of accounting tricks could no longer hide billions of dollars in debt or make failing ventures appear profitable. The energy company’s collapse put more than 5,000 people out of work, wiped out more than $2 billion in employee pensions and rendered $60 billion in Enron stock worthless. Its aftershocks were felt throughout the energy sector. Twenty-four Enron executives , including former CEO Jeffrey Skilling , were eventually convicted for their roles in the fraud. Enron founder Ken Lay’s convictions were vacated after he died of heart disease following his 2006 trial. On Monday — the 23rd anniversary of the bankruptcy filing — a company representing itself as Enron announced in a news release that it was relaunching as a “company dedicated to solving the global energy crisis.” It also posted a video on social media, advertised on at least one Houston billboard and a took out a full-page ad in the Houston Chronicle In the minute-long video that was full of generic corporate jargon, the company talks about “growth” and “rebirth.” It ends with the words, “We’re back. Can we talk?” Enron’s new website features a company store, where various items featuring the brand’s tilted “E” logo are for sale, including a $118 hoodie. In an email, company spokesperson Will Chabot said the new Enron was not doing any interviews yet, but that “We’ll have more to share soon.” Signs point to the comeback being a joke. In the “terms of use and conditions of sale” on the company’s website, it says “the information on the website about Enron is First Amendment protected parody, represents performance art, and is for entertainment purposes only.” Documents filed with the U.S. Patent and Trademark Office show that College Company, an Arkansas-based LLC, owns the Enron trademark. The co-founder of College Company is Connor Gaydos, who helped create a joke conspiracy theory that claims all birds are actually surveillance drones for the government. Peters said that since learning about the “relaunch” of Enron, she has spoken with several other former employees and they are also upset by it. She said the apparent stunt was “in poor taste.” “If it’s a joke, it’s rude, extremely rude. And I hope that they realize it and apologize to all of the Enron employees,” Peters said. Peters, who is 74 years old, said she is still working in information technology because “I lost everything in Enron, and so my Social Security doesn’t always take care of things I need done.” “Enron’s downfall taught us critical lessons about corporate ethics, accountability, and the consequences of unchecked ambition. Enron’s legacy was the employees in the trenches. Leave Enron buried,” she said. Follow Juan A. Lozano on X at https://x.com/juanlozano70Arsenal secured a huge 5-1 win in the Champions League away at Sporting, with multiple players impressing. Jurrien Timber & Riccardo Calafiori both shone against Lisbon, which led to Arsenal supporters to sing their praises. Arsenal need to keep them fit to maintain momentum, according to many onlookers. After Arsenal made it two wins out of two on their return to action after the international break as they ran out 5-1 winners over Sporting in the Champions League on Tuesday night, it isn't their attacking players that are grabbing all the attention. Instead, it was the commendable work done by their full-backs, Jurrien Timber and Riccardo Calafiori . In the modern game, the full-back position has grown increasingly pivotal, as exemplified by the transformative impact of Andrew Robertson and Trent Alexander-Arnold on Liverpool's sustained success in recent years. While Arsenal have often grappled with finding their own solution to this tactical advantage—struggling with players like Oleksandr Zinchenko falling short of expectations—their midweek performance offered a glimpse of hope, easing concerns in an area of the pitch they once looked lost in. The victory followed closely on the heels of a commanding 3-0 triumph over Nottingham Forest at the weekend. Though Mikel Arteta's side remain nine points adrift of the Premier League summit, this week has been nothing short of perfect for Arsenal. With momentum building, they will now feel they’ve uncovered yet another crucial piece of the puzzle in their pursuit of that long-awaited major honour in the club's post-Arsene Wenger era. The defender was spotted imitating the striker and fans think there's a good reason for that Jurrien Timber & Riccardo Calafiori's Performances After just seven minutes, Timber picked the ball up on the right and sent a delivery across goal which Gabriel Martinelli tapped in at the back post. Arsenal then got a second in the 22nd minute as Timber set Thomas Partey up for a lofted pass into the path of Saka, who poked past Franco Israel for Kai Havertz to tap in. The Dutchman, who was out for the majority of last season through an ACL injury, was initially brought in as a potential replacement or understudy to Gabriel in the middle of defence. However, it's safe to say life at right-back hasn't treated the 23-year-old too badly. His all-around defensive qualities, the intensity in which he presses, and his quality in the final third has earned him shouts from the Emirates faithful for being the best signing they've seen in recent years . Riccardo Calafiori, meanwhile, has left fans with a similar impression from the opposite flank. After a successful Euro 2024 campaign, which saw the Italian become a constant threat from deep, he has brought that pizzazz to north London early into his new surroundings after the club navigated one of the best summer transfer windows among their rivals. Against Sporting, the 22-year-old bombed up and down the flank, making that part of the pitch his own in some ways. An impressive passing success rate of 96% placed him above anyone else on the pitch, as he also made two key passes into the final third. GIVEMESPORT Key Statistic: Completing 23/25 of his pass attempts, no player had a better success rate than Riccardo Calafiori on Tuesday night. What Fans Are Saying About the New Full-back Partnership After the game, numerous Arsenal fans all said the same thing about Timber and Calafiori, who both delivered incredible displays from either flank. One fan claimed that the Gunners likely would’ve won the league had Timber been fit last season, while another added: "Timber and Calafiori at FB completely takes this team to another level. The control on games is incredible." Another comment with a similar sentiment read: "Arsenal has to do whatever it takes to keep both Timber and Calafiori fit." Meanwhile, a third user added: "Timber and Calafiori are huge upgrades from White and Zinchenko", and a fourth remarked: "Timber is to Saka defensively what Calafiori is to Martinelli offensively. If these two players are fit there’s very few teams in the world who will beat us, if any at all." The Gunners are next in action on Saturday evening when they face London rivals West Ham United in a Premier League match on the road. On the same weekend, Manchester City, who are winless in six games but still viewed as Arsenal's biggest roadblock to glory, are away at Liverpool, and so the emphasis now is on Arteta's side to continue building on their head of steam. Statistics via FotMob and Sofascore (correct as of 26/11/2024)
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