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IREN Posts First Full-Year Profit on AI Cloud Growth, Mining Expansion; Shares Climb
The stock rose 13% pre-market with IREN closing in on MARA as the world’s biggest bitcoin and AI miner by market cap.
Aug 29, 2025, 8:36 a.m.
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What to know:
- Fiscal 2025 net income swung to $86.9 million, revenue hit $501 million.
- AI cloud expansion planned for 10,900 GPUs by December, could add $200 million to $250 million in annualized revenue.
Bitcoin miner IREN (IREN) posted its first full-year profit as the company founded in 2018 expanded into AI cloud computing and ramped up production capacity with more efficient rigs. The stock climbed in pre-market trading.
Net income in the year ended June 30 rose to $86.9 million from a loss of $28.9 million the year before, IREN said on its website on Thursday. Revenue more than doubled to a record $501 million as the Sydney-based company increased production capacity to 50 exahashes per second (EH/s). Adjusted earnings before interest, tax, depreciation and amortization (Ebitda) surged to $269.7 million, nearly five times last year’s level,
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With nearly 3 gigawatts of contracted power and expansion in both bitcoin mining and AI infrastructure, IREN has positioned itself as one of the sector’s fastest-growing participants. Market cap, currently $5.3 million, is on the verge of overtaking its largest rival, MARA Holdings (MARA), which is valued at under $6 billion, Farside Investors data shows.
The Nasdaq-traded stock rose 13% before the market opening, adding to the year's existing gain of more than 120%.
Mining operations generated more than $1 billion in annualized revenue, while the AI cloud unit is on track for as much as $250 million in annualized revenue by December, the company said. It has 10,900 NVIDIA GPUs already deployed and capacity for more than 60,000 GPUs across existing sites.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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