Mining company IREN expects annual Bitcoin mining revenue to reach $1 billion

ChainCatcher news, Bitcoin miner IREN announced its full-year financial results for the period ending June 30, 2025, with its stock price rising 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, which includes an annualized revenue of $1 billion from Bitcoin mining "under current mining economic conditions."

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