IREN Ltd | 10-K: FY2025 Annual Report

IREN Limited reported a strong financial turnaround with net income of $86.9 million for FY2025, compared to losses of $28.9 million in FY2024 and $171.8 million in FY2023. The company currently operates ~810MW of data center capacity with ~50 EH/s hashrate, maintaining its position as a leading operator of renewable energy-powered data centers. The company holds $990 million in convertible senior notes.The company has successfully expanded into the HPC/AI services market, deploying ~1.9k NVIDIA H100/H200 GPUs with plans to add ~9k more GPUs by end of 2025. Strategic initiatives include the development of "Horizon 1", a 50MW liquid-cooled data center, and implementation of spot pricing strategy at the Childress facility.IREN operates six data centers across Texas and British Columbia, all powered by 100% renewable energy. Under the leadership of Co-CEOs Daniel and Will Roberts, the company has successfully settled previous equipment financing defaults while navigating challenges including Bitcoin price volatility, regulatory uncertainty, and energy cost fluctuations.

IREN Limited reported a strong financial turnaround with net income of $86.9 million for FY2025, compared to losses of $28.9 million in FY2024 and $171.8 million in FY2023. The company currently operates ~810MW of data center capacity with ~50 EH/s hashrate, maintaining its position as a leading operator of renewable energy-powered data centers. The company holds $990 million in convertible senior notes.The company has successfully expanded into the HPC/AI services market, deploying ~1.9k NVIDIA H100/H200 GPUs with plans to add ~9k more GPUs by end of 2025. Strategic initiatives include the development of "Horizon 1", a 50MW liquid-cooled data center, and implementation of spot pricing strategy at the Childress facility.IREN operates six data centers across Texas and British Columbia, all powered by 100% renewable energy. Under the leadership of Co-CEOs Daniel and Will Roberts, the company has successfully settled previous equipment financing defaults while navigating challenges including Bitcoin price volatility, regulatory uncertainty, and energy cost fluctuations.