IREN stock rises after hitting 50 EH/s target and expanding AI fleet

Published 07/07/2025, 12:44
© Reuters.

Investing.com -- IREN Limited (NASDAQ:IREN) stock rose 5% on Monday after the company reported reaching its mid-year hashrate target of 50 EH/s and significantly expanding its AI cloud capabilities with approximately 2,400 NVIDIA (NASDAQ:NVDA) Blackwell GPUs.

The Bitcoin mining and AI infrastructure company posted record monthly revenue in June, with its Bitcoin mining operations generating $65.5 million, up from $64.7 million in May. The company’s hardware profit margin improved to 75% from 74% in the previous month, driven by higher Bitcoin prices and efficient operations.

IREN’s AI Cloud Services maintained steady revenue of $2.2 million with an impressive 98% hardware profit margin. The company’s procurement of 1,300 B200 and 1,100 B300 NVIDIA Blackwell GPUs will increase its total GPU fleet to 4,300 units, positioning the company to scale its AI training and inference capabilities.

"With nearly 3GW of grid-connected power and deep infrastructure expertise, we’re uniquely positioned to deliver flexible solutions across the AI stack," said Daniel Roberts, Co-Founder and Co-CEO of IREN.

The company also completed a $550 million convertible notes offering that was oversubscribed and finalized its transition to U.S. domestic issuer status. IREN reported that its Hopper GPUs are operating at near full utilization, supporting a diverse customer mix on contracts ranging from on-demand to three years, generating an annualized run-rate revenue of $28 million.

IREN has paused further Bitcoin mining expansion beyond the 50 EH/s target to focus on building out its AI verticals, which the company projects could generate $827 million in annualized hardware profit at current capacity levels.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.