Mining company IREN expects Bitcoin’s annual mining revenue to reach US$1 billion

According to ChainCatcher, Bitcoin miner IREN released its full-year financial results to June 30, 2025, with its share price rising by more than 12% in after-hours trading. The company reported quarterly revenue of $187.3 million, net profit of $176.9 million, and profit before interest, tax, depreciation and amortization (EBITDA) of $241.4 million, including $1 billion in annualized revenue of Bitcoin mining “under the current mining economy”. According to the announcement, IREN has replaced ASIC miners for Bitcoin mining with GPU miners for AI cloud at several of its mining centers, including British Columbia. The company also invests in a liquid-cooled AI data center called Horizon, which is expected to be put into operation in the fourth quarter of 2025, and a Sweetwater facility expected to go live by the end of 2027. Earlier this month, IREN surpassed its competitor MARA in both Bitcoin production and mining machine utilization, becoming the leading mining company with hashrate.