Bitcoin mining company Iris Energy (NASDAQ: IREN) is making waves with its record-breaking performance in June. The company reported a staggering $68 million in revenue, achieved a 50 EH/s hashrate, and expanded its AI Cloud capabilities with 2,400 new NVIDIA Blackwell GPUs. Let’s dive into the details of this impressive milestone.
IREN’s Record-Breaking Revenue and Hashrate Achievement
IREN’s June performance was nothing short of spectacular. The company reported:
- Record monthly revenue of $68 million
- Hardware profit of $51 million
- Electricity costs of $16 million
This achievement underscores IREN’s efficiency and scalability in Bitcoin mining. The company also hit its 50 EH/s hashrate target, supported by a data center capacity of 810 MW.
Expanding AI Cloud with NVIDIA GPUs
IREN isn’t just about Bitcoin mining. The company is aggressively expanding its AI Cloud infrastructure:
- Added ~2,400 Blackwell GPUs
- Total NVIDIA GPUs now at 4,300
This move positions IREN as a key player in the AI and cloud computing space, leveraging NVIDIA’s cutting-edge technology.
Financial Milestones and Strategic Moves
IREN’s $550 million convertible notes offering was oversubscribed, reflecting strong investor confidence. The company also completed its transition to U.S. domestic issuer status, paving the way for further growth in AI and financing initiatives.
What’s Next for IREN?
With its robust financials, expanding AI Cloud, and mining capabilities, IREN is poised for continued success. The company’s dual focus on Bitcoin mining and AI positions it uniquely in the tech and crypto landscape.
FAQs
What is IREN’s current hashrate?
IREN achieved a 50 EH/s hashrate in June, meeting its target.
How many NVIDIA GPUs does IREN have now?
IREN has 4,300 NVIDIA GPUs, including 2,400 newly added Blackwell GPUs.
What was IREN’s revenue in June?
IREN reported a record $68 million in revenue for June.
What is the significance of IREN’s convertible notes offering?
The oversubscribed $550 million offering highlights strong investor confidence in IREN’s growth trajectory.
