Bitcoin Miner Iren posted the best quarter of revenues to the present, carrying $ 187.3 million last quarter, contributing to a record of $ 501 million revenue for the fiscal year, sending its stock almost 14% in the trade after time.
The quarterly income for the month ended on June 30 reached 226% year-year, helping the company back to profitability with $ 176.9 million in net income, Iren Says in a report on Thursday.
Advancement is driven by the growth of its bitcoin (Btc) Mining business, but the company has also made motions to deepen its footprint in the AI space as a new “preferred partner” in AI giant Nvidia.
Iren’s shares closed nearly 3.1% to $ 23.04 on Thursday and increased another 13.9% in times following results, Google Finance Data Shut up. The stock continues to climb this month, repeatedly setting up new highs.
Iren’s AI expansion reflects a greater industrial trend, while Bitcoin miners continue to navigate the recent increase in Mining difficulties There is that urged the use of energy And squeezed income margins – forcing many of them to adopt better equipment, find cheaper sources of energy, or expand AI.
Iren became a leading miner of Bitcoin in 2025
Iren recorded $ 1 billion in annual income “under the current mining economy” and defeat the heavy Mara Holdings industry to Making BTC mining In July, mining 728 BTC compared to Mara’s 703 BTC.
Iren also noticed 50 exahashes per second in the installed bitcoin mining capacity, but stopped expanding to focus on AI.
Iren partners with a giant NVIDIA industry
Iren increased the GPU count to 1,900 during the quarter, growing 132% year-on-year as it became a “preferred Nvidia partner,” which activated more direct access to Nvidia’s hardware.
Iren produces income from his AI business by renting GPU power for machine learning activities, training large language models and supporting businesses that require AI calculation.
Iren plans to spend another $ 200 million to boost the GPU number to 10,900 in the coming months to reach the target of $ 200 million to $ 250 million in AI’s annual income in December.
It represents an eight-to-fold increase in AI revenue compared to what was made between April and June, which brought about $ 25 million monthly.
For a long time, Iren was looking for 60,000 Nvidia’s Blackwell GPU at the British Columbia site in Canada.
Iren was previously turned on as “overwhelming”
Iren’s strong performance of late comes about a year after short-selling firm Culper Research Said Iren was “wildly overvalued” and criticized the company for talking “big game” about High performance computing Without investing enough to compete with AI.
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Culper compared Iren’s efforts to compete to win the Monaco Grand Prix, but came to the track at a Toyota Prius.
Since then, Iren’s sharing fell from $ 12.31 to less than $ 5.59 in April, but raw at 312.2% over the past four months.
Meanwhile, Iren recently reached A confidential settlement with Nydig lenders, which wraps a nearly three-year legal battle over $ 105 million in default equipment loans tied to nearly 35,000 Antminer S19s.
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