Bitcoin Miner IREN Posts Record $501M Revenue in FY25, Reverses Prior-Year Loss

Australian Bitcoin miner IREN has declared fiscal year 2025 its “breakout year,” reporting a surge in revenue from $187.2 million to $501 million and reversing a prior net loss to a record $86.9 million in profit.

CEO Highlights Operational Expansion

IREN, an Australian Bitcoin miner, has described the financial year ending June 30, 2025, as its “breakout year.” The company’s revenue rose by more than 2X from $187.2 million to $501 million, while net income reversed a loss of $28.9 million from the previous year to reach a record $86.9 million. The company’s Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) also saw a record increase, soaring by 1,344% from $19.3 million to $278.2 million.

According to the miner’s FY25 financial results presentation, under current mining economics, IREN is approaching $1 billion in annualized revenue from bitcoin mining alone. It also expects to realize $200 to $250 million in annualized revenue from its AI Cloud business, which will use 10.9k NVIDIA GPUs by December 2025.

Daniel Roberts, co-founder and co-CEO of IREN, said that FY25 was a breakout year both “financially and operationally.” He added:

“We expanded our contracted, grid-connected power to nearly 3GW, more than tripled operating data center capacity to 810MW, and completed our 50 EH/s expansion—all while laying the foundation for rapid growth in our AI Cloud business to more than 10,000 NVIDIA GPUs.”

Roberts stated that the company’s vertical integration strategy positions it to deliver across the entire AI infrastructure stack, which includes powered shells, turnkey colocation, and fully managed cloud services. He also revealed that IREN is advancing a range of additional commercial opportunities while executing on its near-term growth.

As per the company’s full-year financial results presentation, construction is underway for a new liquid-cooled data center at Prince George for NVIDIA GB300 NVL72 systems. This facility will have the capacity to support more than 4.5k GB300 GPUs and will include back-up generators and UPS systems for all GPUs in British Columbia.