Bitcoin Miner IREN Soars on Q4 EBITDA Beat, Nvidia-Powered AI Cloud Ahead

Aug 29 - IREN Limited IREN jumped 20% on Friday morning after reporting fiscal Q4 results that beat expectations on adjusted EBITDA and signaled fast expansion in both bitcoin mining and AI cloud services. Q4 adjusted EBITDA reached $121.9 million, topping the $111.2 million consensus and rising from $82.9 million in Q3. Revenue came in at $187.3 million, roughly flat with estimates and meaningfully ahead of earlier quarters.

IREN says it approaches $1.25 billion in total annualized revenue and expects more than $1 billion from bitcoin mining under current economics. The company also projects $200$250 million in annualized AI cloud revenue once it reaches 10.9K Nvidia (NVDA) GPUs by December 2025.

Management highlighted strong sequential EBITDA growth, noting an unrealized gain on financial instruments helped Q4, while operating income stayed negative amid aggressive reinvestment.

Investors cheered the beat, sending shares higher in after-hours trade.