Bitcoin Miner Iran has registered its best gain quarter to date, which generated $ 187.3 million in the last quarter, which contributed to a record income of $ 501 million for the fiscal year, which caused almost 14% in trade after the hours.
The quarterly revenues of the month that ended on June 30 increased 226% year -on -year, which helped the company return to profitability with $ 176.9 million in net income, I will saying In a report on Thursday.
The increase was driven by the growth in its Bitcoin (BTC) mining business, but the company has also made movements to deepen its footprint in the space of AI as a new “favorite partner” for the NVIDIA giant.
IREN’s shares closed to almost 3.1% to $ 23.04 on Thursday and increased another 13.9% in hours after the results, Google Finance data shows. The stock has been constantly going up this month, repeatedly establishing new maximums.
The expansion of IREN’s AI reflects a broader industry trend, since Bitcoin miners continue to sail for the recent increase in mining difficulty that has generated the use of energy and squeezed the gain margins, which forces many of them to adopt more efficient equipment, find cheaper energy sources or expand to AI.
Iren has been a better Bitcoin miner in 2025
Iren registered $ 1 billion in annualized revenues “under the current mining economy” and beat the Mara Holdings industry in the mining production of BTC in July, Mining 728 BTC compared to the 703 BTC of Mara.
Iren also had notches of 50 exahashes per second in the installed Bitcoin mining capacity, but a greater expansion was stopped to focus on AI.
Iren is associated with the Nvidia industry giant
Iren increased its GPU count to 1,900 during the quarter, growing 132% year after year, since it became a “preferred partner for Nvidia”, which allows more direct access to NVIDIA hardware.
Iran obtains income from your business by renting GPU energy for automatic learning tasks, training large language models and supporting companies that need a calculation of high performance AI.
Iran plans to spend another $ 200 million to increase its 10,900 GPU count in the coming months to achieve its target of $ 200 million to $ 250 million in annual revenues from AI in December.
This would represent an increase of eight to ten times in the income of AI compared to what he did between April and June, which brought around $ 25 million per month.
In the long term, Iren is looking to install 60,000 from the Nvidia Blackwell GPUs in its British Columbia site in Canada.
I will once linked as “overvalued”
The solid performance of Iran Late arrives approximately one year after the short sales firm Culper Research said that Iren was “overvalued” and criticized the company for talking about “great game” about high performance computing without investing enough to compete seriously in ia.
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Culper compared Iran’s efforts to compete to win the Monaco Grand Prix, but arriving at the track in a Toyota Prius.
Since then, Iran’s shares fell from $ 12.31 to only $ 5.59 in April, but 312.2% have been recovered in the last four months.
Meanwhile, I will recently go reached A confidential agreement with the Nydig creditor, which concludes a legal battle of almost three years in more than $ 105 million in loans of breeding equipment linked to around 35,000 S19 antminators.
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