IREN (NASDAQ:IREN) is coming off of what management describes as “a breakout year” with 50 EH/s of bitcoin mining capacity and half a billion in revenue, according to the company’s 2025 fiscal year financials.
Per Australian fiscal year standards, for the full year ended June 30, 2025, IREN earned $501 million in revenue – $484.6 million from bitcoin mining and $16.4 million from AI cloud services – and $86.9 million in net income. The company’s self reported EBITDA and adjusted EBITDA were $278.2 million and $269.7 million respectively.
- IREN Full Year FY25 Financials (Jul 1, 2024 – June 30, 2025):
- Revenue: $501.0m (+168% vs. FY24 $187.2m)
- Net Income: $86.9m (vs. FY24 net loss of $28.9m)
- Adj. EBITDA: $269.7m (+395% vs. FY24 $54.4m)
- EBITDA: $278.2m (+1,344% vs. FY24 $19.3m)
- Revenue: $501.0m (+168% vs. FY24 $187.2m)
IREN operates 810 MW of bitcoin mining and AI cloud compute data centers. In addition to its 50 EH/s bitcoin mining fleet, IREN also operates 1,900 NVIDIA GPUs. The company said in its 2025 FY filing that it has purchased and/or leased 5.5k B200s, 2.3k B300s, and 1.2k GB300s to expand its total NVIDIA GPU fleet to 10,900. IREN hopes to have the GPUs installed and operational by the end of 2025.
To house these new GPUs, IREN says it is on track to energize Horizon 1, a 50 MW, water-cooled expansion at its Childress, TX site, in Q4 2025.
IREN also announced that it has achieved Preferred Partner status with Nvidia, which provides benefits like technical training, enhanced support, promotions, and marketing help from the tech giant.
“It enhances supply access and helps broaden our customer pipeline, supporting expansion across both existing relationships and new end users, platforms, and demand partners,” IREN CEO Jeff Roberts said on the company’s FY2025 earnings call, referring to the Nvidia Preferred Partners status.
Shares of IREN were up 10% in after market hours at the time of publication.
