From GlobeNewswire: 2024-11-26 16:14:00

IREN reported Q1 FY25 results, focusing on low-cost Bitcoin mining, cash flows, and shareholder returns. Expansion to 50 EH/s accelerated to H1 2025, with a potential for investor distributions. Transition to a U.S. domestic issuer status planned for 2025. Business update includes Bitcoin mining and AI/HPC services expansion. Power & land development priorities outlined. Operating cash outflow of $3.8 million in Q1 FY25. Cash and cash equivalents of $98.6 million as of September 30, 2024. Net loss after tax of $51.7 million in Q1 FY25. Reconciliation of non-IFRS metrics provided in the report.

IREN is a data center business expanding its Bitcoin mining and AI services using 100% renewable energy. Bitcoin mining aims to reach 50 EH/s in H1 2025. AI Cloud Services utilize 1,896 NVIDIA GPUs. Next-gen data centers designed for high-performance computing. Development portfolio includes 2,310MW of grid-connected power. 100% renewable energy commitment. Contacts for media and investors provided. Stay updated on IREN’s news and SEC filings by subscribing to email alerts.



Read more at GlobeNewswire:: IREN Reports Q1 FY25 Results