Australian company IREN, focused on Bitcoin mining, has announced record financial results for the year ending June 30, 2025, due to increased mining operations and expansion into artificial intelligence.
IREN's Record Financial Report
IREN reported record revenue of $501 million for the fiscal year, representing a 168% increase year-over-year. For the second quarter, revenue surged 226% to $187.3 million, with net income reaching $176.9 million, a significant turnaround from a $28.9 million loss last year. IREN attributes its growth to increased mining output, improved operational efficiency, and advancements in AI services, including partnerships with major tech firms.
Expansion of AI Cloud Infrastructure
Building on its success in Bitcoin mining, IREN is ramping up its AI operations. The company has become a 'Preferred Partner' with Nvidia, gaining direct access to the latest hardware. In Q2, its installed base reached 1,900, growing 132% year-over-year, with plans to increase to 10,900 GPUs by December 2025, potentially generating $200-250 million in annual AI revenue.
Strategic Shift and Future Plans
IREN is strategically shifting from traditional Bitcoin mining to becoming an AI cloud infrastructure provider. It operates four data centers in British Columbia and Texas supporting both Bitcoin mining and AI cloud services with renewable energy. The company plans to deploy over 60,000 Nvidia Blackwell GPUs and is actively seeking financing to support its infrastructure expansion.
IREN demonstrates significant growth and adaptability to changing markets, successfully combining traditional Bitcoin mining with the rising demand for AI services, keeping the company competitive in modern conditions.
