Bitcoin

<p>IREN has reported a remarkable 89% increase in the average price of Bitcoin mined during the fiscal year 2024, a significant leap from $23.2k in FY23 to $43.9k in FY24. This substantial growth in the realized price per Bitcoin has significantly bolstered the company's profitability, underscoring the success of its strategic initiatives in the volatile cryptocurrency market, according to <a href="https://ultramining.com/" rel="noopener noreferrer nofollow">Ultramining.com</a>.</p>
<p>This increase in the average price per mined Bitcoin is not just a reflection of favorable market conditions, but also a testament to IREN’s operational strategies aimed at optimizing its mining efficiency. The company has made significant investments in upgrading its mining equipment, transitioning to more energy-efficient models that offer higher performance at lower energy costs. This operational improvement has enabled IREN to capitalize on market opportunities more effectively, securing better prices for the Bitcoin it mines.</p>

89% Surge in Average Bitcoin Price Boosts IREN’s Profitability

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