Iris Energy Ltd. (IREN) has released an update.
Iris Energy Limited (IREN) has reported a record-breaking third quarter for FY24 with a substantial increase in revenue, Adjusted EBITDA, and a $47.9 million operating cash inflow. The company’s strategic expansion plans are set to increase its operating capacity to 30 EH/s in 2024, driven by growth in Bitcoin mining and AI Cloud Services. With a robust $259.7 million in cash and no debt as of March 31, 2024, IREN is positioning itself for industry leadership in powering Bitcoin and AI technologies.
For further insights into IREN stock, check out TipRanks’ Stock Analysis page.
