IREN Reports First Full-Year Profit Driven by AI Cloud and Mining Expansion; Shares Surge
Business/Finance

IREN Reports First Full-Year Profit Driven by AI Cloud and Mining Expansion; Shares Surge

IREN's stock increased by 13% after announcing a net income of $86.9 million on revenue of $501 million, positioning it as a potential leader in Bitcoin and AI mining.

Key Highlights:

  • In FY 2025, IREN’s net income reached $86.9 million, doubling its revenue to a record $501 million.
  • The company’s AI cloud expansion is set to introduce 10,900 GPUs by December, potentially boosting annual revenues by $200 million to $250 million.

Article Summary:

Bitcoin miner IREN has reported its first full-year profit, marking a significant shift since its founding in 2018. The firm, which has adapted to include AI cloud computing alongside mining, revealed a pre-market stock increase of 13%.

For the year ending June 30, profits surged from a loss in the prior year, fueled by a growth in production to 50 exahashes per second (EH/s) and a drastic rise in adjusted earnings before interest, tax, depreciation, and amortization (Ebitda) to $269.7 million.

With almost 3 gigawatts of contracted power and continuing expansion in both Bitcoin mining and AI infrastructure, IREN is competing closely with major rivals like MARA Holdings, which has a market cap of just under $6 billion. As of now, IREN’s market valuation sits at $5.3 million.

The company expects to generate over $1 billion in annualized revenue from mining alone, while the AI cloud unit could reach up to $250 million in annualized revenue by the year’s end.

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