IREN (IREN) reported record fiscal first-quarter earnings as it expanded further into AI cloud computing and revenue from bitcoin mining surged.
Net income in the period ended Sept. 30 rose to $384.6 million, reversing a year-earlier loss of $51.7 million, the company said on its website. Total revenue rose 355% to $240.3 million, with bitcoin mining accounting for $232.9 million, 50-times the year-earlier figure.
The Sydney, Australia-based company is one of a broader trend of bitcoin miners repurposing their energy and data center assets to serve the booming AI compute market. Earlier this week, Mara Holdings (MARA), which is following a similar path, reported a quarterly profit vs loss and revenue that rose 92% year over year.
The companies, which have experience in running large-scale data centers and negotiating supplies of cheap power, are pivoting their ASIC-based mining facilities to GPU-powered AI cloud services.
For IREN, the standout development going forward is the five-year, $9.7 billion AI cloud contract with Microsoft announced on Monday. The deal includes phased deployments at its Childress site through 2026 and a 20% prepayment, with an expected $1.9 billion annualized run-rate revenue (ARR) contribution. Combined with new multiyear contracts with Together AI, Fluidstack and Fireworks AI, the company is targeting $3.4 billion in AI Cloud ARR by the end of next year, supported by the planned expansion to 140,000 GPUs.
Infrastructure development continues at pace. The company plans to transition its British Columbia (160MW) facilities from ASICs to GPUs end-2026, while accelerating construction of liquid-cooled Horizon data centers (200MW) at Childress (750MW). At the Sweetwater Hub (2GW), key substations are scheduled for energization over the next wo years.
“IREN continues to execute with discipline, delivering record results and meaningful progress in our AI Cloud expansion,” co-founder and co-CEO Daniel Roberts said in a statement.
IREN shares slid more than 12% on Thursday. They are up 2% in Friday's pre-market trading.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
