IREN Stock Rallies After Strong Q4 Earnings Beat, NVIDIA Preferred Partner Status
IREN Limited reported strong Q4 earnings, with earnings of 66 cents per share, surpassing estimates of 14 cents, and revenue of $187.3 million, exceeding the $186.53 million forecast. The company achieved NVIDIA Preferred Partner status and is on track for $1.25 billion in annualized revenue, driven by Bitcoin mining and AI Cloud services. IREN's stock rose 7.94% to $24.87 following the announcement. Co-CEO Daniel Roberts highlighted significant operational growth and future potential in AI Cloud with over 10,000 NVIDIA GPUs planned by December 2025.
IREN Limited IREN released its fourth-quarter results after Thursday's closing bell. Here's a look at the key figures from the quarter.
The Details: Iren reported quarterly earnings of 66 cents per share, which beat the consensus estimate of 14 cents.
Quarterly revenue clocked in at $187.3 million, which beat the analyst consensus estimate of $186.53 million and is up from revenue of $52.76 million from the same period last year.
The company announced it has achieved NVIDIA Corp. NVDA Preferred Partner status.
Iren reported the following highlights from the fourth quarter:
- Approaching $1.25 billion total annualized revenue with scope for further growth ahead
- >$1 billion annualized revenue from Bitcoin mining under current mining economics
- $200-$250 million annualized revenue from AI Cloud at 10.9k NVIDIA GPUs by December 2025
- Capacity to deploy >60,000 Nvidia Blackwell GPUs across existing British Columbia data centers, and >19,000 GB300s at Horizon 1
- Secured a second round of GPU financing for 100% of hardware purchase price, with further financing workstreams underway
“FY25 was a breakout year financially and operationally, with record results that included strong net income and more than 10x EBITDA growth,” said Daniel Roberts, Co-CEO of IREN.
“We expanded our contracted, grid-connected power to nearly 3GW, more than tripled operating data center capacity to 810MW, and completed our 50 EH/s expansion – all while laying the foundation for rapid growth in our AI Cloud business to more than 10,000 NVIDIA GPUs,” Roberts added.
IREN Stock Price: According to data from Benzinga Pro, IREN stock was up 7.94% at $24.87 in Thursday's extended trading.
