PANews August 29 news, according to The Block, Bitcoin miner IREN announced its full-year financial performance for the period ending June 30, 2025, with its stock price rising over 12% in after-hours trading. The company reported quarterly revenue of $187.3 million, net profit of $176.9 million, and earnings before interest, taxes, depreciation, and amortization (EBITDA) of $241.4 million, which includes an annualized revenue of $1 billion from Bitcoin mining 'under the current mining economic conditions.'
According to the announcement, IREN has replaced ASIC mining machines used for Bitcoin mining with GPU mining machines for AI cloud at several of its mining centers, including in British Columbia. The company has also invested in a liquid-cooled AI data center named Horizon, expected to be operational in the fourth quarter of 2025, as well as a facility named Sweetwater, anticipated to be online by the end of 2027. Earlier this month, IREN surpassed its competitor MARA in both Bitcoin output and mining machine utilization, becoming the leading mining company in hash rate.
