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Jun 30
Iris Energy Q4 2025 Earnings Report
Iris Energy posted record Q4 performance with strong profitability and revenue growth from both Bitcoin mining and AI cloud services.
Key Takeaways
In Q4 FY25, Iris Energy generated $187.3M in revenue and delivered $176.9M in net income. Adjusted EBITDA reached $121.9M with a 65% margin, as both the Bitcoin mining and AI segments expanded sharply.
Revenue reached $187.3M, driven by strong Bitcoin mining output and AI services ramp-up
Net income for Q4 totaled $176.9M, marking a record quarter
Adjusted EBITDA hit $121.9M with a 65% margin
Unrealized gains on financial instruments significantly boosted quarterly profit
Iris Energy
Iris Energy
Iris Energy Revenue by Segment
Revenue by Segment
Bitcoin Mining Revenue
CapyFin.comAI Cloud Services Revenue
CapyFin.com Forward Guidance
IREN expects to ramp AI cloud revenue to $200–250M annualized by December 2025, expanding GPU infrastructure and data center capacity.
Positive Outlook
- On track for 10.9k NVIDIA GPUs deployed by Dec 2025
- Secured financing for 100% of hardware purchases
- Preferred Partner status with NVIDIA achieved
- Expansion plans include >60,000 GPUs in British Columbia
- Horizon 1 and 2 liquid-cooled AI data centers under construction
Challenges Ahead
- AI cloud revenue not yet fully contracted
- Heavy reliance on Bitcoin mining economics
- High capital expenditures required for AI infrastructure
- Volatility from financial instruments affects earnings visibility
- Adjusted EBITDA excludes substantial one-off items