Iris Energy (US:IREN)2025-02-13 03:01Q2 FY25 Financial Highlights - Revenues reached $119.6 million[11] - EBITDA was $62.7 million[11] - Net Profit After Tax (NPAT) amounted to $18.9 million[11] - Adjusted EBITDA Margin was 52% compared to 5% in Q1 FY25[53] Operational Growth - Mining capacity increased by approximately 50%, from 21 EH/s to 31 EH/s[11] - Average Operating Hashrate was 22.6 EH/s[11] - Expansion to 50 EH/s is on track for H1 2025, adjusting prior mining expansion plan from 57 EH/s to 52 EH/s due to Horizon 1[11, 39] Strategic Initiatives - Developing a new 600MW Sweetwater 2 site to create a 2GW Sweetwater Data Center Hub[11, 22] - Horizon 1, a new 75MW liquid-cooled data center at Childress for AI/HPC, is under development with a target completion in H2 2025[11, 16] - The company secured 2,310MW of grid-connected power[11, 40] Financial Position - Cash and cash equivalents stood at $427.3 million as of December 31, 2024[55, 61] - Total assets amounted to $1,852 million[61] - A $440 million Convertible Note was issued on December 6, 2024, with a 3.25% annual interest rate[61]