IREN Ltd. (NASDAQ:IREN) saw a 9.54 percent drop on Tuesday, closing at $18.73 as investors took profits after a recent surge. The company is set to release earnings for the full fiscal period of 2025 on August 28, with a focus on achieving a 50 EH/s hash rate for Bitcoin mining.

Investors are eagerly awaiting IREN Ltd.’s financial and operating highlights after market close on August 28, alongside an investor call to discuss results. The company has successfully achieved its 50 EH/s hash rate target, which could generate $830 million in annualized hardware profit and boost revenues from Bitcoin mining.

IREN Ltd. reported $83.6 million in revenues from 728 Bitcoins mined in July, a 27.6 percent increase from June. Average Bitcoin prices in July were 8.66 percent higher, at $114,891. Despite potential in IREN as an investment, some AI stocks may offer greater returns with limited downside risk. Check out our free report on the best short-term AI stock.

Read more at Yahoo Finance: IREN Ltd. (IREN) Falls as Investors Book Gains