Shares in IREN Ltd surged 11.4% after reporting $86 million in revenue for July, outperforming MARA Holdings in Bitcoin production with 728 BTC mined versus MARA’s 703 BTC, despite a smaller hashrate. IREN’s market cap hit $4.11 billion, second only to MARA among public Bitcoin miners.

IREN also earned $2.3 million from AI cloud business, diversifying beyond mining. Co-founder Daniel Roberts noted growing interest in NVIDIA Blackwell GPUs for AI. Previously criticized as “overvalued,” IREN’s stock fell then soared 227% in four months. Now, it runs mining rigs and GPUs simultaneously, demonstrating adaptability.

Read more at CoinTelegraph: IREN Soars 11% After Mining More Bitcoin Than MARA In July