IREN Ltd (NASDAQ:IREN) reported financial results for the third quarter of fiscal 2025 on Wednesday after the bell. Here’s a look at the key details from the report.
IREN said it mined 1,514 Bitcoin during the quarter, up from 1,347 Bitcoin mined in the second quarter. Total electricity costs increased from $28.9 million to $36.5 million quarter-over-quarter. The company reported an average operating hashrate of 29.4 EH/s in the quarter.
IREN ended the quarter with $184.3 million in cash and cash equivalents.
“We’re pleased to report another quarter of strong EBITDA and net profit. Our focus on large-scale data center sites continues to drive rapid growth and strong margins,” said Daniel Roberts, co-founder and co-CEO of IREN.
Outlook: IREN expects its installed capacity to reach 50 EH/s by June 30. The company noted that it climbed to 40 EH/s as of April 16.
IREN said it continues to evaluate expansion opportunities as its customer growth strengthens, supporting its AI colocation pipeline. IREN expects to deliver its 50MW liquid-cooled AI data center in the fourth quarter.
IREN Price Action: IREN Limited shares were up 3.76% in Wednesday’s after-hours session, trading at $8.27 at the time of publication, according to Benzinga Pro.
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