Bitcoin News Today: Bitcoin Miner IREN Powers Past Rivals With AI and Efficiency Boost

IREN Limited (IREN) surged nearly 14% in after-hours trading following the release of record second-quarter earnings, marking a significant milestone for the company. Quarterly revenue for the period ended June 30 amounted to $187.3 million, a 226% year-on-year increase and contributing to a record $501 million in fiscal year revenue [8]. The company reported $176.9 million in net income, signaling a return to profitability driven primarily by its

IREN’s Bitcoin mining operations continue to benefit from rising revenues and efficiency improvements. The company reported $141.2 million in Bitcoin mining revenues during the third quarter of fiscal 2025, a 24% year-over-year increase, and mined 1,514 bitcoins compared to 1,347 in the prior quarter [1]. The average revenue per Bitcoin mined reached $105,730 in June, reflecting strong pricing dynamics and efficient operations [1]. Net electricity costs per Bitcoin mined also decreased to $26,259 in June from $27,033 in May, indicating improved cost management [1].

Beyond Bitcoin, IREN has been aggressively expanding its AI Cloud services, now a key pillar of its strategy. AI Cloud services revenue rose 33% year-on-year to $3.6 million in the third quarter of fiscal 2025, and the company has secured

IREN is also focused on long-term infrastructure development to support its growing operations. The company has secured 2,910 MW of grid-connected power across more than 2,000 acres in the U.S. and Canada, with an additional multi-gigawatt development pipeline [7]. Its next-generation data centers are purpose-built for power-dense computing applications and are underpinned by 810 MW of operating capacity [7]. IREN plans to install 60,000 of NVIDIA’s Blackwell GPUs at its British Columbia site in Canada, with a long-term goal of reaching $200 million to $250 million in annualized AI revenue by December [8].

The company's strong financial performance has been reflected in its stock price, which has surged 312.2% over the past four months [8]. Shares closed up nearly 3.1% at $23.04 on Thursday and rose another 13.9% in after-hours trading following the earnings report [8]. IREN has also resolved a three-year legal dispute with creditor NYDIG, reaching a confidential settlement over $105 million in defaulted equipment loans tied to around 35,000 Antminer S19s [8]. The company's shares have outperformed the Zacks Finance sector, with a year-to-date return of 134.1% compared to the sector’s 11.8% [1].

IREN Limited’s continued success in Bitcoin mining and AI Cloud services highlights its strategic position in both the cryptocurrency and AI markets. With expanding GPU capacity, strong operational metrics, and a robust financial position, the company is well-positioned to sustain its momentum and deliver long-term value to shareholders.

Source:

[1] Buy, Sell or Hold IREN Stock? Key Tips Ahead of Q4 Earnings (https://finance.yahoo.com/news/buy-sell-hold-iren-stock-170500901.html)

[2]

[3] IREN Surges on Record Revenue Achievements (https://stockstotrade.com/news/iren-limited-iren-news-2025_08_28/)

[4] Bitcoin Miner Selling A Risk To The BTC Bull Market? (https://cointelegraph.com/news/bitcoin-miners-cash-out-dollar485m-in-btc-here-s-why)

[5] Bitcoin Mining Faces 'Incredibly Difficult' Market as Power Becomes the Real Currency (https://www.coindesk.com/tech/2025/08/24/bitcoin-mining-faces-incredibly-difficult-market-as-power-becomes-the-real-currency)

[6] IREN (IREN) Surges on Transition to AI Service - Yahoo Finance (https://finance.yahoo.com/news/iren-iren-surges-transition-ai-162140841.html)

[7] IREN Expands AI Cloud to 10.9k GPUs, with NVIDIA Preferred Partner Status and Additional Financing Secured (https://greenstocknews.com/news/nasdaq/iren/iren-expands-ai-cloud-to-10-9k-gpus-with-nvidia-preferred-partner-status-and-additional-financing-secured)

[8] Bitcoin miner IREN surges 14% on BTC-driven quarter, AI expansion (https://cointelegraph.com/news/btc-miner-iren-rises-12-percent-record-year)