Bitcoin News Today: IREN's AI Push and Green Power Fuel Investor Optimism

IREN Limited (NASDAQ:IREN) saw its stock surge more than 12% in after-hours trading after the company reported record financial results for the fiscal fourth quarter and disclosed aggressive expansion into the artificial intelligence (AI) cloud computing sector. The firm’s quarterly revenue hit $187.3 million, with net income of $176.9 million and EBITDA of $241.4 million, surpassing analyst expectations and signaling strong operational and financial performance [5]. The company is on track to achieve $1 billion in annualized revenue from Bitcoin mining alone, under current economic conditions, while its AI cloud business is projected to generate between $200 million and $250 million in annualized revenue by the end of 2025 [5].

The results reflect IREN's strategic shift from traditional Bitcoin mining to a dual-revenue model that includes both mining and AI services. The firm is replacing its application-specific integrated circuits (ASICs) used for Bitcoin mining with graphics processing units (GPUs) for AI computing at several mining centers, including in British Columbia [6]. IREN has also expanded its partnership with Nvidia , becoming a "Preferred Partner," which grants direct access to the latest GPU technology and enables the firm to scale its AI operations more efficiently [6]. The company has already increased its GPU count to 1,900 during the quarter, a 132% year-on-year growth, and plans to invest an additional $200 million to boost this number to 10,900 in the coming months [6].

IREN’s financial performance in the quarter was also supported by its growing energy efficiency and renewable power usage, which contribute to lower operational costs and higher margins. The company reported that 97% of its energy comes from renewable sources such as hydro, wind, and solar, and it operates at an energy efficiency of 15 J/TH, a significant advantage in the energy-intensive Bitcoin mining industry [7]. These factors, combined with a diversified revenue model, position IREN to maintain profitability even in the face of increased Bitcoin mining difficulty and price volatility.

IREN’s expansion into AI is not only a strategic business move but also a response to industry-wide challenges. As mining difficulty rises and energy costs increase, many Bitcoin miners face shrinking profit margins. By shifting to AI cloud services, IREN taps into a high-growth market expected to expand at a 25% compound annual growth rate (CAGR) through 2030. The firm is also investing in infrastructure for long-term scalability, including a liquid-cooled AI data center project called Horizon and a planned facility in Sweetwater, expected to come online in late 2027 [5].

The company’s recent performance has drawn positive market reactions, with its stock price climbing nearly 3.1% in regular trading on Thursday and surging an additional 13.9% in after-hours trading [6]. IREN’s shares closed at $23.04, with a market capitalization of $5.4 billion, reflecting strong investor confidence in its transformation and financial resilience. The stock has been on a steady upward trajectory, repeatedly setting new highs over the past month.

IREN’s ability to adapt to changing market conditions and leverage strategic partnerships has positioned it as a leading Bitcoin miner and a competitive player in AI computing. With its dual-revenue model, renewable energy focus, and advanced operational efficiency, IREN is demonstrating a path for sustainability and long-term profitability in the evolving cryptocurrency and AI landscapes [5].

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