IREN’s Financial Performance Improves Significantly in 2024:
The company reported record revenues of $184.1 million from Bitcoin mining, compared to $75.5 million in the previous fiscal year.
IREN mined 4,191 Bitcoins during the year, compared to 3,259 Bitcoins in 2023.
Adjusted net income before interest, taxes, and depreciation also improved significantly, rising to $54.7 million compared to $1.4 million in the previous year.
The company turned to positive net income before interest, taxes, and depreciation of $19.6 million, compared to a loss of $123.2 million in fiscal 2023.
Daniel Roberts, co-founder and co-CEO of IREN, said:
We are pleased to announce our annual results for fiscal 2024, which highlight continued growth in revenue, earnings, and cash flow.
We are on track to achieve our target of 20 EH/S next month and 30 EH/S this year.
Argo Blockchain, another company in the sector, reported 18% revenue growth in the first half of 2024, despite a 50% decline in its cryptocurrency output
IREN AI Cloud Services, generating $3.1 million in revenue from multiple clients.
