Bitcoin Miner IREN Stock Soars 14% After Record Quarter, Accelerates AI Expansion
After-hours trading on Thursday saw Bitcoin mining business IREN Limited's shares rise by about 14%. This was after the company released
Quick overview
- IREN Limited's shares surged by 14% after reporting record quarterly earnings and significant advancements in artificial intelligence.
- The company achieved $187.3 million in sales for the quarter, marking a 226% increase year-over-year, and returned to profitability with a net income of $176.9 million.
- IREN is expanding its AI infrastructure, partnering with Nvidia and planning to increase its GPU count significantly, aiming for $200-$250 million in annual AI revenue by December.
- The company's stock has risen 312% in the past four months, reflecting strong investor confidence in its dual strategy of Bitcoin mining and AI development.
After-hours trading on Thursday saw Bitcoin mining business IREN Limited’s shares rise by about 14%. This was after the company released strong quarterly earnings that showed record-breaking mining performance and big progress in its shift to artificial intelligence.
The company, which used to be called Iris Energy, made $187.3 million in sales in the three months ending June 30. This is a huge 226% rise over the same time last year. This success helped the company make a record $501 million in total sales for the fiscal year, and it also made $176.9 million in net income, which brought it back to profitability.
IREN’s Bitcoin Mining Leadership Drives Results
IREN’s major source of income was its core Bitcoin mining business, which brought in $180 million for the quarter. The company has become a strong competitor in the mining market, and it recently beat MARA Holdings, a big player in the field, in monthly Bitcoin production. In July, IREN mined 728 BTC, while MARA mined 703 BTC. This shows that IREN’s operating plan works.
With 50 exahashes per second of installed Bitcoin mining capability, the company’s mining infrastructure is currently one of the best in the business. Under current mining economics, IREN expects to make $1 billion a year from its Bitcoin activities alone. This shows how strong the company’s base is for its efforts to diversify.
Strategic AI Expansion Takes Center Stage
The results for the quarter were mostly due to Bitcoin mining, but IREN’s biggest news is that it is rapidly expanding into the field of artificial intelligence infrastructure. The company has formed a strategic partnership with chip giant Nvidia, making it a “Preferred Partner” that gives it more direct access to the latest hardware.
During the quarter, IREN added 1,900 GPUs, which is a 132% increase from the same time last year. The AI part of the business brought in about $25 million a month, but the corporation wants to grow this part of the business a lot.
IREN said it would spend another $200 million to raise its GPU count up to 10,900 units in the next several months. By December, the company hopes to make between $200 million and $250 million a year from AI. This would be an eight- to ten-fold rise over what AI makes now.
Long-term Vision and Infrastructure Development
The company’s long-term AI plan is based on making big investments in infrastructure. IREN is building several large facilities, such as the Horizon liquid-cooled AI data center, which is set to open in the fourth quarter of 2025, and the huge Sweetwater facility in Texas, which is projected to be up and running by the end of 2027.
The Sweetwater project is a very big deal. It covers 1,800 acres and can hold 700,000 GPUs and 2 gigawatts of power. Also, IREN aims to put 60,000 of Nvidia’s sophisticated Blackwell GPUs at its campus in British Columbia, Canada. This shows how big its AI goals are.
Remarkable Turnaround Story
IREN’s current success is a huge change from where it was a little over a year ago. In July 2024, the short-selling business Culper Research called the corporation “wildly overvalued,” saying its AI plans were unrealistic and that its competitive position was like “arriving at the Monaco Grand Prix in a Toyota Prius.”
The stock fell from $12.31 to as low as $5.59 in April 2025, which showed that people were not sure about it. Shares, on the other hand, have gone up an amazing 312% in the last four months, hitting $25 on Thursday, the highest level since November 2021.
IREN Limited (IREN) Stock: Market Response and Future Outlook
The excellent earnings announcement made IREN shares go up 3.1% during regular trading to $23.04, and then they went up even more after hours. The company’s market value is currently $5.4 billion, which shows that investors believe in its two-pronged strategy.
Wall Street experts are excited about IREN’s changes. They all agree that the company’s sales will expand by 170% a year, hitting $510 million in 2025 and possibly $941 million the next year.
“FY25 was a breakout year for us in terms of finances and operations. We had record results, including strong net income and more than 10 times EBITDA growth,” said Daniel Roberts, co-CEO of IREN. This shows that the company was able to carry out its strategic goal.
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