PANews reported on August 29th that Bitcoin miner IREN announced its full-year financial results for the period ending June 30, 2025, sending its stock price up over 12% in after-hours trading. The company reported quarterly revenue of $187.3 million, net profit of $176.9 million, and earnings before interest, taxes, depreciation, and amortization (EBITDA) of $241.4 million, including $1 billion in annualized Bitcoin mining revenue "under current mining economic conditions."

According to the announcement, IREN has replaced ASIC miners used for Bitcoin mining with GPU miners for its AI cloud at several of its mining centers, including in British Columbia. The company has also invested in a liquid-cooled AI data center called Horizon, expected to be operational in the fourth quarter of 2025, and a Sweetwater facility expected to be online by the end of 2027. Earlier this month, IREN surpassed competitor MARA in both Bitcoin production and mining rig utilization, becoming the leading mining company in terms of hash rate.