PANews reported on August 29 that according to The Block, IREN (formerly Iris Energy) released its financial report as of June 30, 2024, showing that its annual Bitcoin mining revenue hit a new high of US$184.1 million, a year-on-year increase of 144%. During this period, the company's self-mining computing power almost doubled from 5.6 EH/s to 10 EH/s, mining a record 4,191 bitcoins. IREN expects to reach a computing power target of 20 EH/s next month and reach 30 EH/s by the end of 2024. In addition, the company reported $3.1 million in AI cloud business revenue for the first time. Despite rising electricity and operating costs, IREN's net loss has dropped to $29 million from $171.9 million last year.