Iris Energy Reports Strong Q3 FY25 Earnings

Iris Energy Ltd. ( (IREN) ) has released its Q3 earnings. Here is a breakdown of the information Iris Energy Ltd. presented to its investors.

Iris Energy Ltd. (IREN) is a leading data center company that focuses on Bitcoin mining and AI cloud services, utilizing 100% renewable energy. The company is expanding its operations with a focus on high-performance and power-dense computing applications.

In its latest earnings report, Iris Energy Ltd. announced a 28% growth in profit after tax for the third quarter of fiscal year 2025. The company highlighted its strong EBITDA and net profit, driven by its large-scale data center sites and a strategic shift towards AI infrastructure initiatives.

Key financial metrics for the quarter included record revenues of $148.1 million, with a 24% increase in Bitcoin mining revenue and a 33% increase in AI cloud services revenue. The company mined 1,514 Bitcoin and reported a record adjusted EBITDA of $83.3 million. Additionally, Iris Energy Ltd. has paused its mining expansion at 50 EH/s to focus on AI opportunities, with significant projects like Horizon 1 and Sweetwater in development.

Looking ahead, Iris Energy Ltd. aims to continue its growth trajectory by leveraging its low-cost Bitcoin production capabilities and expanding its AI data center infrastructure. The company remains committed to disciplined capital allocation and is exploring multiple debt financing initiatives as market conditions stabilize.