IREN mined 620 BTC in June, delivering $65.5 million in mining revenue, while reaching its mid-year self-mining target of 50 EH/s. The Bitcoin miner turned AI firm also added 2,400 NVIDIA Blackwell GPUs to bring AI Cloud capacity to approximately 4,300 units.
The company ran an average operating hashrate of 41.1 EH/s, up from 38.4 EH/s in May, achieving a 75% hardware profit margin on mining after net electricity costs of $26,259 per bitcoin, per a company release. IREN’s fleet operated at 15 J/Th, a leading efficiency among publicly traded miners.
AI Cloud Services held steady in June, generating $2.2 million in revenue at a 98% hardware profit margin, as Hopper GPUs continued full utilization and the newly ordered 1,300 B200 and 1,100 B300 Blackwell cards began installation at Prince George.
Earlier this summer, IREN closed an oversubscribed $550 million convertible senior notes offering—up from an initial $450 million—securing over $530 million of net proceeds to fund its growth in both bitcoin mining and AI infrastructure.
Read More: IREN hits 50 EH/s target following upsized $550 million convertible notes offering
At time of publication, IREN is up 4.52% premarket.
