Overview

• IREN reported fiscal-year revenue of $501 million and net income of $86.9 million, alongside record quarterly revenue of $187.3 million.
• Management guided the AI cloud unit to a $200 million to $250 million annualized run rate by December as the company scales services for high-performance compute customers.
• The company expanded its GPU fleet to roughly 10,900 units following a $168 million purchase of Nvidia B300 and GB300 chips tied to its new preferred-partner status.
• Bitcoin mining capacity reached about 50 EH/s, with July production outpacing MARA, as IREN highlighted an efficient fleet and low-cost power.
• Cash totaled about $564 million at quarter end, financing covers roughly 40% of GPU investments, and analysts raised price targets as shares jumped as much as 28% to a record high.