IREN announced its annual revenue is projected to exceed 1 billion USD in Bitcoin mining, with quarterly figures showing 187.3 million USD in revenue and a net profit of 176.9 million USD.
The company is transitioning from ASIC miners to GPU miners for enhanced AI cloud capabilities, aiming to improve operational efficiency.
IREN is planning further investments in a liquid-cooled AI data center named Horizon, set to be operational by Q4 2025, while already achieving higher Bitcoin production than its competitor, MARA.
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