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IREN Limited reported a significant revenue increase of 29.4%, reaching $187.3 million in the fourth quarter of fiscal 2025. The company mined 1,825 bitcoins during this quarter, generating $180.3 million in bitcoin revenues, which rose 27.7% sequentially. Additionally, IREN’s average revenue per bitcoin mined was $98.8.
As of June 30, 2025, IREN held $564.5 million in cash and equivalents and expects to achieve $1.25 billion in annualized revenues by December 2025, with approximately $1 billion attributed to bitcoin mining. The company’s AI Cloud services revenues also grew to $7 million in the same quarter, up from $3.6 million previously, with plans to expand GPU utilization significantly.
Despite strong growth, IREN shares have been rated with a Value Score of F, trading at a forward price/book ratio of 8.26X compared to the industry average of 3.53X. Additionally, earnings estimates for fiscal 2026 have seen a downward revision, reflecting economic challenges and stretched valuations.
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