Iris Energy ( (IREN) ) has provided an update.
In December 2024, Iris Energy reported a significant increase in Bitcoin mining capacity and efficiency, achieving a 450% growth in hashrate and a hardware profit margin of 77%. The company mined 529 Bitcoins in December, generating $52.1 million in revenue, and is on track to expand its capacity to 50 EH/s by the first half of 2025. Additionally, the company continued its expansion in AI and HPC services, enhancing its market positioning with the installation of nearly 1,900 NVIDIA GPUs.
More about Iris Energy
Iris Energy, trading as IREN Limited, is a company that operates in the cryptocurrency mining industry, primarily focusing on Bitcoin mining. The company is also expanding into high-performance computing (HPC) and artificial intelligence (AI) cloud services, utilizing advanced GPU technology.
YTD Price Performance: 8.41%
Average Trading Volume: 17,452,626
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $2.22B
See more insights into IREN stock on TipRanks’ Stock Analysis page.
