Loading...
•
Mar 31, 2025
IREN Ltd Q3 2025 Earnings Report
Iris Energy delivered a strong quarter with record revenue and EBITDA driven by growth in Bitcoin mining and AI services.
Key Takeaways
Iris Energy posted $148.1 million in revenue in Q3 FY25, with substantial contributions from Bitcoin mining and a 33% increase in AI cloud services. The company reported $24.2 million in net income and continued scaling its AI infrastructure while pausing mining expansion at 50 EH/s.
Achieved record revenue of $148.1 million, up from $119.6 million in Q2.
Bitcoin mining revenue rose to $141.2 million, with 1,514 BTC mined.
AI cloud services revenue grew 33% QoQ to $3.6 million.
Paused mining expansion at 50 EH/s to focus on liquid-cooled AI data centers.
Revenue by Segment
Forward Guidance
IREN is pausing further mining expansion at 50 EH/s to focus on high-demand AI infrastructure projects, with Horizon 1 and Sweetwater positioned as future growth engines.
Positive Outlook
- On track to reach 50 EH/s installed capacity by June 30, 2025.
- Expected $588M illustrative Adjusted EBITDA at 50 EH/s.
- AI run-rate revenue now at $28M annually.
- Strong customer demand for next-gen liquid-cooled GPUs.
- Site design underway for full 750MW transformation at Childress.
Challenges Ahead
- Rising electricity costs due to increased hashrate.
- Ongoing debt financing efforts amid volatile macro conditions.
- GPU financing and scale-up dependent on external funding.
- Potential delays in AI data center commercialization timelines.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...