IREN posted record quarterly revenue of $187.3 million and swung back to profitability, while ramping up GPU capacity through a new Nvidia partnership to fuel AI growth.
Bitcoin miner IREN posted its best quarterly earnings to date, bringing in $187.3 million in revenue last quarter, which contributed to a record $501 million revenue for the fiscal year, sending its stock up almost 14% in after-hours trading.
Quarterly revenue for the period ended June 30 was up 226% year-on-year, helping the company swing back into profitability with $176.9 million in net income, IREN said in a report on Thursday.
The surge was driven by growth in its Bitcoin (BTC) mining business, but the company has also made moves to deepen its footprint in the AI space as a new “Preferred Partner” to AI giant Nvidia.
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments