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Investing.com -- IREN Limited (NASDAQ:IREN) reported fourth-quarter fiscal 2025 revenue of $187.3 million, exceeding analyst expectations of $183.02 million, as the cryptocurrency mining and AI cloud company continues its transformation into a diversified data center operator.
The company’s shares rose 5% in Thursday postmarket trade following the announcement, as investors responded positively to the revenue beat and news that IREN has secured NVIDIA Preferred Partner status. The company also announced the procurement of an additional 2,400 GPUs worth approximately $168 million, expanding its total GPU fleet to 10,900 NVIDIA GPUs.
For the full fiscal year 2025, IREN reported record total revenue of $501.0 million, a 168% increase compared to $187.2 million in fiscal 2024. The company posted net income of $86.9 million for the year, reversing a net loss of $28.9 million in the previous fiscal year.
"FY25 was a breakout year financially and operationally, with record results that included strong net income and more than 10x EBITDA growth," said Daniel Roberts, Co-Founder and Co-CEO of IREN. "We expanded our contracted, grid-connected power to nearly 3GW, more than tripled operating data center capacity to 810MW, and completed our 50 EH/s expansion."
The company secured approximately $96 million in financing to support its GPU expansion through a 24-month lease representing 100% of the purchase price for the NVIDIA GB300 GPUs, with lease payments calculated using a high single-digit interest rate.
IREN’s Bitcoin mining capacity increased 400% YoY to 50 EH/s, while its AI Cloud capacity grew 132% to 1,900 NVIDIA GPUs. The company expects to generate $200-250 million in annualized revenue from its AI Cloud business by December 2025 with its expanded GPU fleet.
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