IREN Achieves $1 Billion Bitcoin Mining Revenue Milestone, Stock Soars

IREN, formerly known as Iris Energy, has marked a significant milestone with its $1 billion Bitcoin mining revenue. This achievement was fueled by the company’s stellar quarterly earnings and contributed to an impressive 12% surge in stock price after-hours trading. The mining giant reported $187.3 million in revenue with net income reaching $176.9 million for the period. This success, driven by their dual strategy of Bitcoin mining and AI cloud services, has positioned IREN as a market leader.