IREN : Q3 FY25 Presentation vF
IREN
Published on 05/14/2025 at 16:38
Q3 FY25 Results Presentation
NASDAQ: IREN May 14, 2025
HIGHLIGHTS
Q3 Highlights
Consecutive Quarters of Profit After Tax
Record Revenue of $148.1m
Record Adj. EBITDA of $83.3m
Record EBITDA of $82.7m
Profit After Tax of $24.2m
Avg. Operating Hashrate of 29.4 EH/s
Growth Outlook
Bitcoin Mining
50 EH/s installed capacity by June 30
Pausing further mining expansion at 50 EH/s to focus on AI opportunities
AI Cloud
Revenues increasing with new contracts
AI Data Centers
Horizon 1 - Up to 50MW (IT load) liquid-cooled capacity targeting Q4 2025 delivery
Sweetwater 1 - 1.4GW April 2026 energization
Corporate & Funding
Disciplined capital allocation amid macroeconomic volatility
Advisors engaged across multiple debt financing workstreams, anticipating execution in coming months as markets continue to stabilize
Transition to US domestic issuer status
with US GAAP reporting from July 1, 2025
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Bitcoin Mining
SETTING THE BENCHMARK FOR PERFORMANCE
Record earnings
29.4 EH/s average operating hashrate for the quarter
326% YoY hashrate growth, relative to 40% increase in network difficulty
All-in Margin Profile
(Includes all direct and indirect cash costs for all business verticals - does not net-off AI cloud revenues)
Strong and resilient margins
Per PH/s
$23
vs.
$54
Best-in-class fleet efficiency (15 J/TH)
Low electricity costs, optimized by energy market expertise (3.3 c/kWh Childress power price)
Operational leverage with scale
Per Day
All-in hash cost Avg. hash price
Minimizing dilution
Per BTC
$41k
vs.
$93k
Daily Bitcoin liquidation delivering strong cashflows to support growth in AI verticals
mined
All-in cash cost Revenue
Revenue ($m)
Adj. EBITDA ($m)
EBITDA ($m)
Profit After Tax ($m)
$119.6m
$148.1m
Q2 FY25 Q3 FY25
Note: Refer to assumptions and notes on page 24
$83.3m
$62.6m
Q2 FY25 Q3 FY25
$82.7m
$62.7m
Q2 FY25 Q3 FY25
$24.2m
$18.9m
Q2 FY25 Q3 FY25
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Disclaimer
Iren Ltd. published this content on May 14, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 14, 2025 at 20:36 UTC.