Bitcoin miner turned-AI-factory IREN (NASDAQ: IREN) reported revenue of $240.3 million and net income of $384.6 million Thursday for its Q1 FY2026 earnings (Q3 2025).
The company said adjusted EBITDA was $91.7 million for the quarter. It reported EBITDA of $662.7 million, which it said included unrealized gains.
The company listed several operating updates, including Childress site acceleration, its planned transition to GPU operations at its locations in British Columbia by the end of 2026. The Australia-based firm is targeting energization of both Sweetwater 1 and Sweetwater 2 substation’s by Q2 2026 and Q4 2027, respectively.
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