Aug. 23 at 12:58 AM
$IREN had a strong showing today, continuing its impressive momentum in the Bitcoin mining and AI infrastructure space.
Here’s what’s driving the buzz:
Bitcoin Mining Boom: IREN mined 728 bitcoins in July, up from 620 in June. That helped push July revenues up 27.6% month-over-month to
$83.6 million.
AI Cloud Expansion: Their AI Cloud services revenue jumped 33% year-over-year, and they’ve expanded their GPU fleet to 4,300 units for next-gen computing workloads.
Massive Infrastructure Growth: IREN hit its target of 50 EH/s hashrate, which translates to an estimated
$830 million in annualized hardware profit. July alone saw a 28.7% jump in hardware profit.
Stock Performance: Year-to-date, IREN shares have surged 100.4%, outperforming rivals like Riot Platforms and CleanSpark.
In short, IREN is riding high on both crypto and AI trends.
