Business
IREN April 2025 Monthly Update
SYDNEY, May 06, 2025 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ: IREN) (together with its subsidiaries, “IREN” or “the Company”), today published its monthly
About this update from Iren Limited
[{"type":"text","content":"SYDNEY, May 06, 2025 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ: IREN) (together with its subsidiaries, “IREN” or “the Company”), today published its monthly update for April 2025.\n April Highlights\n Mining capacity increased to 40 EH/s mid-monthOn track for 50 EH/s by June 30Miners scheduled to ship from Southeast Asia (during 90-day pause on reciprocal tariffs)AI Cloud Services revenue continuing to growHorizon 1 AI Data Center on track for H2 2025 deliveryCustomer and financing workstreams progressing\n \n Key MetricsApr 25Mar 25Feb 25 Bitcoin Mining Average operating hashrate36.6 EH/s30.3 EH/s28.7 EH/sBitcoin mined3579 BTC533 BTC459 BTCRevenue (per Bitcoin)$86,522$85,012$95,570Electricity cost (per Bitcoin)1($24,381)($20,460)($28,341)Revenue$50.1m$45.3m$43.9mElectricity costs1($14.1m)($10.9m)($13.0m)Hardware profit2$36.0m$34.4m$30.9mHardware profit margin472%76%70% AI Cloud Services Revenue$2.0m$1.6m$1.2mElectricity costs1($0.04m)($0.05m)($0.04m)Hardware profit2$2.0m$1.5m$1.1mHardware profit margin498%97%96% \n Management Commentary “We’re proud to have expanded our mining capacity to 40 EH/s during the month, further cementing IREN as one of the largest-scale, lowest-cost producers of Bitcoin.” said Daniel Roberts, Co-Founder and Co-CEO of IREN.\n We remain on track to reach 50 EH/s within the next two months, with mining hardware shipments scheduled from Southeast Asia during the 90-day pause on reciprocal tariffs. Strong cashflows from our existing operations continue to support our efforts to secure financing for growth across our AI business verticals.\n With limited liquid-cooled capacity currently available in the U.S. to support the rollout of NVIDIA’s Blackwell GPUs, our Horizon 1 project scheduled for 2025 commissioning represents a key catalyst for IREN’s entry into the AI data center market. It also lays the foundation for scalable liquid-cooling deployments across our broader platform.\n We look forward to updating the market on the progress of these key projects at our upcoming earnings presentation.”\n Technical Commentary\n Bitcoin Mining\n Maintaining strong and resilient margins – underpinned by our best-in-class efficiency (15 J/TH), low electricity c...