IREN Bitcoin Hashrate Surpasses 50 EH/s, Entering the Top Tier of Global Mining Companies and Expanding AI Infrastructure Simultaneously

According to ChainCatcher, as reported by The Block, publicly listed Bitcoin mining company IREN has announced that its proprietary Bitcoin hashrate has reached 50 EH/s, accounting for approximately 6% of the total network hashrate (842 EH/s), thus achieving its mid-year target. This scale ranks fourth in the industry, behind only Marathon Digital (57.3 EH/s), CleanSpark (50 EH/s), and Riot Platforms (33.7 EH/s). Of its 750MW mining facility in Texas, 650MW is already operational, driving a nearly 50-fold increase in hashrate over the past 30 months.

IREN Co-CEO Daniel Roberts stated that the 50 EH/s milestone demonstrates the company’s efficient delivery capabilities in energy and data center infrastructure. In the second quarter, the company’s Bitcoin mining cost was $41,000 per coin, benefiting from 15 J/TH energy-efficient equipment and renewable energy advantages. With the current Bitcoin price at approximately $106,542, this low-cost structure provides resilience against market volatility.

The company’s AI transformation strategy is also underway: a 50MW liquid-cooled AI data center (Horizon 1) will be built at the Texas site, with operations planned for Q4 2025. IREN will serve AI clients through a GPU hosting model and plans to issue $450 million in convertible senior notes to support its expansion.