Q2 Iris Energy

Brody · 2025-02-13T05:49:10.477877Z

$IREN Positive Record Bitcoin mining revenue of USD 113.5 million, an increase of 129% compared to the previous quarter Net profit of USD 18.9 million compared to a loss in the previous quarter Operating cash flow of USD 53.7 million 39% reduction in electricity costs per Bitcoin from $35,359 to $21,418 75% hardware profit margin in January 2025 Negative Revenue from AI cloud services fell from USD 3.2 million to USD 2.7 million quarter-on-quarter Other costs increased from USD 21.4 million to USD 25.1 million quarter-on-quarter Reduction in the planned hashrate expansion from 57 EH/s to 52 EH/s

Q2 Iris Energy

$IREN (+10.62%)

Positive

Record Bitcoin mining revenue of USD 113.5 million, an increase of 129% compared to the previous quarter
Net profit of USD 18.9 million compared to a loss in the previous quarter
Operating cash flow of USD 53.7 million
39% reduction in electricity costs per Bitcoin from $35,359 to $21,418
75% hardware profit margin in January 2025

Negative

Revenue from AI cloud services fell from USD 3.2 million to USD 2.7 million quarter-on-quarter
Other costs increased from USD 21.4 million to USD 25.1 million quarter-on-quarter
Reduction in the planned hashrate expansion from 57 EH/s to 52 EH/s

Singulus@Singulus

3Mon

What do you think the course is doing today? 🧐

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Show answer

Bastibroschi@Bastibroschi

I find it difficult to cite the reduction in the planned hashrate expansion as a negative. I actually see it as a positive, as the risk/return ratio of investing in AI data centers is probably higher right now.

Brody@Brody

@Bastibroschi I'm basically with you. But it creates uncertainty when I raise the planned hashrate extension in January and announce in February that Horizon I has priority.