2024

Bitcoin

Million

Spot

IREN, formerly known as Iris Energy, has announced record-breaking financial results for the fiscal year ending June 30, 2024, with significant growth in Bitcoin mining revenue and capacity expansion.
<h2 id="iren-reports-record-184-1-million-in-bitcoin-mining-revenue-as-capacity-nearly-doubles">IREN Reports Record $184.1 Million in Bitcoin Mining Revenue as Capacity Nearly Doubles</h2>
The company reported $184.1 million in bitcoin mining revenue, a 144% increase from $75.5 million in the previous fiscal year. The increase was driven by a combination of rising hashrate and higher Bitcoin prices.
The company nearly doubled its self-mining capacity during the period, from 5.6 exahashes per second (EH/s) to 10 EH/s. As a result, IREN mined a record 4,191 BTC, up from 3,259 BTC in the previous fiscal year.
The company has deployed a total capacity of 15 EH/s as of August 28 and is on track to reach 20 EH/s next month and 30 EH/s by the end of 2024. This growth is supported by the purchase of the latest-generation Bitmain S21 XP miners worth 10.5 EH/s, which are expected to be delivered by November.
Related News: <a href="https://en.bitcoinsistemi.com/us-spot-ethereum-exchange-traded-funds-etfs-end-9-day-out-streak-here-are-the-details/" target="_blank" rel="noopener noreferrer nofollow">US Spot Ethereum Exchange Traded Funds (ETFs) End 9-Day Out-Streak! Here Are the Details</a>
“We are pleased to report our full FY24 results, which highlight continued growth in revenue, earnings and cash flow. Our 2024 guidance remains unchanged. With 15 EH/s installed, we are on track to reach our 20 EH/s milestone next month and 30 EH/s this year,” said Daniel Roberts, co-founder and co-CEO of IREN.
In addition to its bitcoin mining operations, IREN reported $3.1 million in AI cloud revenue for the first time, reflecting the company’s efforts to diversify its service offerings amid its expanding data center operations.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/bitcoin-mining-company-doubles-capacity-announces-record-revenue/" rel="noopener noreferrer nofollow">Bitcoin Mining Company Doubles Capacity, Announces Record Revenue!</a>

Bitcoin Mining Company Doubles Capacity, Announces Record Revenue!

Table of Contents

Bitcoin Sistemi EN

Other articles published on Aug 29, 2024

Cardano’s Hoskinson: ERC-20, Ethereum’s Greatest Technical Feat

New Solana Memecoin Pepe vs SEC (PEPESEC) to Skyrocket Over 16,000% Before Exchange Listing

The UK revises its AI strategy to cut costs

Bitcoin mining CEO eyes hashrate contracts to offset rising costs

Which Altcoin Is the Favorite of Institutional Investors After Bitcoin? Here Is the Latest Data!

Can MoonBag 0% Tax Give It an Edge Over DOGE’s $0.15 Target & MemeLife’s Vision

Join our free newsletter for daily crypto updates!