IREN Ltd Shares Surge After Record FY25 Results

NEW YORK, Aug. 28, 2025 (Reuters) - Shares of IREN Limited (NASDAQ: IREN) climbed 3.06% to close at $23.04 on Thursday, following the release of the company’s full-year FY25 financial results. In after-hours trading, shares extended gains, rising 4.49% to $24.08.

IREN reported record FY25 revenue of $501.0 million, up 168% from FY24’s $187.2 million, driven by robust Bitcoin mining operations and expansion of AI Cloud services. Net income turned positive at $176.9 million, compared to a net loss of $28.9 million in the prior year. Adjusted EBITDA reached $121.9 million, while EBITDA was $241.4 million.

The company highlighted its capacity to deploy 10,900 NVIDIA GPUs, aiming to generate $200-250 million in annualized AI Cloud revenue by December 2025, and over $1 billion in annualized Bitcoin mining revenue under current economics. Management cited the dual fiber system upgrades and liquid-cooled GB300 NVL72 deployments as key enablers of infrastructure efficiency and scalability.

Analysts attributed the strong performance to IREN’s strategic focus on renewable-powered data centers, cutting-edge AI infrastructure projects, and efficient digital currency mining operations. Following the announcement, several brokerages reaffirmed bullish outlooks on the stock, noting the company’s ability to balance high-margin AI services with steady mining cash flows.