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IREN Reports Record $184.1 Million in Bitcoin Mining Revenue as Capacity Nearly Doubles
The company reported $184.1 million in bitcoin mining revenue, a 144% increase from $75.5 million in the previous fiscal year. The increase was driven by a combination of rising hashrate and higher Bitcoin prices.
The company nearly doubled its self-mining capacity during the period, from 5.6 exahashes per second (EH/s) to 10 EH/s. As a result, IREN mined a record 4,191 BTC, up from 3,259 BTC in the previous fiscal year.
The company has deployed a total capacity of 15 EH/s as of August 28 and is on track to reach 20 EH/s next month and 30 EH/s by the end of 2024. This growth is supported by the purchase of the latest-generation Bitmain S21 XP miners worth 10.5 EH/s, which are expected to be delivered by November.
Related News: US Spot Ethereum Exchange Traded Funds (ETFs) End 9-Day Out-Streak! Here Are the Details
“We are pleased to report our full FY24 results, which highlight continued growth in revenue, earnings and cash flow. Our 2024 guidance remains unchanged. With 15 EH/s installed, we are on track to reach our 20 EH/s milestone next month and 30 EH/s this year,” said Daniel Roberts, co-founder and co-CEO of IREN.
In addition to its bitcoin mining operations, IREN reported $3.1 million in AI cloud revenue for the first time, reflecting the company’s efforts to diversify its service offerings amid its expanding data center operations.
The company reported $184.1 million in bitcoin mining revenue, a 144% increase from $75.5 million in the previous fiscal year. The increase was driven by a combination of rising hashrate and higher Bitcoin prices.
The company nearly doubled its self-mining capacity during the period, from 5.6 exahashes per second (EH/s) to 10 EH/s. As a result, IREN mined a record 4,191 BTC, up from 3,259 BTC in the previous fiscal year.
The company has deployed a total capacity of 15 EH/s as of August 28 and is on track to reach 20 EH/s next month and 30 EH/s by the end of 2024. This growth is supported by the purchase of the latest-generation Bitmain S21 XP miners worth 10.5 EH/s, which are expected to be delivered by November.
Related News: US Spot Ethereum Exchange Traded Funds (ETFs) End 9-Day Out-Streak! Here Are the Details
“We are pleased to report our full FY24 results, which highlight continued growth in revenue, earnings and cash flow. Our 2024 guidance remains unchanged. With 15 EH/s installed, we are on track to reach our 20 EH/s milestone next month and 30 EH/s this year,” said Daniel Roberts, co-founder and co-CEO of IREN.
In addition to its bitcoin mining operations, IREN reported $3.1 million in AI cloud revenue for the first time, reflecting the company’s efforts to diversify its service offerings amid its expanding data center operations.
The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 62.3 and 61.8).
Bitcoin / Dollar intraday: the upside prevails as long as 59370 is support
Our preference
The upside prevails as long as 59370 is support.
Comment
The RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive.
Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 59672 and 59363).
Alternative scenario
Below 59370, expect 58150 and 57420.
Our preference
The upside prevails as long as 59370 is support.
Comment
The RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive.
Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 59672 and 59363).
Alternative scenario
Below 59370, expect 58150 and 57420.
Last week, digital asset investment products had $533 million in inflows, the highest in five weeks. Shows true #BTC sensitivity to interest rate expectations.
REZ open at 0.16 and drop 4 months
I saw a lot of coin list on Binance drop like this and move up after that. REZ will back to 0.1 easy
I saw a lot of coin list on Binance drop like this and move up after that. REZ will back to 0.1 easy
$DOT has been accumulating for quite some time, perfect moment to buy. The initial targets are displayed on screen, and the $35 acting as a magnet level.
The more you think you know the more you lost.
If you are not the created that Crypto. Remember Luna and FTT
I buy $REZ now and sell it when i see enough.
If you are not the created that Crypto. Remember Luna and FTT
I buy $REZ now and sell it when i see enough.