Iris Energy (US:IREN)2025-07-02 07:08Business Overview - IREN has installed 15 EH/s hashrate and aims to reach 30 EH/s in 2024[14] - IREN has 300MW operating power with plans to reach 510MW in 2024, and has secured 2,310MW of power capacity[15] - IREN possesses 816 NVIDIA H100 GPUs for AI Cloud Services, with the fleet fully utilized[13] AI Cloud Services - AI Cloud Services revenue continues to scale, with both revenue and the number of customers increasing[39] - AI Cloud Services generated $31 million in revenue[55] - AI Cloud Services monthly revenue reached $152 million annualized[36] Financial Performance (FY24 vs FY23) - Bitcoin mining revenue increased from $755 million to $1841 million[55] - Adjusted EBITDA increased from $14 million to $547 million, resulting in a 29% Adjusted EBITDA Margin[52] - The company mined 4,191 BTC, a 29% increase from 3,259 BTC in the previous year[55] - Average price realized per BTC mined increased by 89%, from $232k to $439k[55] Financial Position - Cash and cash equivalents increased by $3364 million to $4046 million[61] - Total assets increased to $11530 million[66]