IREN Limited Reports Record Monthly Revenue and Growth
IREN Limited Achieves New Milestones in July Update
IREN Limited (NASDAQ: IREN) proudly announced its remarkable monthly update for July, showcasing significant progress in various sectors including bitcoin mining and AI Cloud services. This month marks a historical breakthrough with record monthly revenue and hardware profitability, which paints a bright future for the company and its stakeholders.
Key July Highlights
During July, IREN reported an impressive achievement of record monthly revenue and hardware profits. Some key accomplishments include the successful expansion of AI Cloud services alongside notable hardware installations:
- Top monthly revenue reaching $86 million.
- Hardware profits hitting $66 million, benefitting from robust bitcoin mining economics.
- Expansion of the AI Cloud with an addition of 2,400 NVIDIA B200/B300 GPUs.
- Completion of the initial shipment of B200 GPUs, now fully contracted.
- The Horizon 1 liquid-cooled AI data center is on track to launch in the fourth quarter of 2025.
- Complete fiber upgrades enhancing the capability to support the growth of AI Cloud services.
Financial Performance Overview
The company's financial metrics tell a compelling story of growth and resilience:
| Key Metrics | July 25 | June 25 |
|---|---|---|
| Revenue per Bitcoin mined | $114,891 | $105,730 |
| Average operating hashrate | 45.4 EH/s | 41.1 EH/s |
| Bitcoin mined | 728 BTC | 620 BTC |
| Net electricity cost per Bitcoin mined | ($27,976) | ($26,259) |
| Revenue | $83.6 million | $65.5 million |
| Hardware profit | $63.3 million | $49.2 million |
| Hardware profit margin | 76% | 75% |
Management Insights
Daniel Roberts, Co-Founder and Co-CEO of IREN, expressed enthusiasm regarding the company's achievements in July:
“We delivered another month of record revenue of $86 million and record hardware profits of $66 million in July, supported by strong Bitcoin mining economics and continued demand for our AI Cloud services.”
Additionally, he highlighted the accelerating interest in newly procured Blackwell GPUs with the initial batch of 256 B200 GPUs already under contract. He emphasized the unique capability of their infrastructure to run ASICs and GPUs alongside each other effectively, positioning IREN optimally to leverage forthcoming market opportunities.
Upcoming Events and Engagements
The company is gearing up for key industry events, including:
- Canaccord Annual Growth Conference in Boston, scheduled soon.
- SALT Wyoming Blockchain Symposium in Jackson Hole later this month.
- Participating in YOTTA, Digital Infrastructure Conference in Las Vegas.
These events aim to strengthen partnerships and expand IREN’s influence in the rapidly evolving tech space.
Future Projections
As IREN continues its impressive trajectory, the company remains committed to optimizing its operational efficiency and expanding their innovative AI Cloud services and bitcoin mining operations. The outlook appears promising for further profitability growth, supported by strategic advancements in technology and infrastructure.
Frequently Asked Questions
What are the latest accomplishments reported by IREN Limited?
IREN reported record monthly revenue of $86 million and hardware profits of $66 million, alongside significant advancements in AI Cloud services.
How much bitcoin did IREN mine in July?
In July, IREN mined 728 BTC, up from 620 BTC in June.
What improvements were made in IREN’s AI Cloud services?
The AI Cloud was expanded with the addition of 2,400 NVIDIA GPUs and enhancements to existing infrastructure were finalized.
What are the expected future developments for IREN?
IREN anticipates continued growth in both bitcoin mining profits and expansion of AI Cloud services, with several industry events planned to engage potential partners.
Who can be contacted for media inquiries regarding IREN?
For media inquiries, Megan Boles from Aircover Communications can be reached at +1 562 537 7131 or via email.
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