Latest news with #HashRate
Yahoo
14 hours ago
- Business
- Yahoo
IREN Ltd. (IREN) Soars for 7th Day, as Firm On Track to Hit Hash Rate Target
IREN Limited (NASDAQ:IREN) is one of the . IREN Ltd. extended its winning streak to a 7th straight day on Friday, jumping 6.79 percent to close at $14 apiece, as investors continued to load up positions before the end of the month on optimism that it would hit its average operating hash rate target of 50 EH/s. Earlier this month, IREN Limited (NASDAQ:IREN) announced that it was on track to hit 50 EH/s of operating hash rate by the end of June, or a 30-percent improvement from the 38.4 EH/s hash rate logged last month. A table full of technology, with bitcoin mining rigs and a laptop showing a financial graph. According to the company, a 50 EH/s generates $977 million in annualized mining revenue at current mining economics. As of June 5, 2025, IREN Limited (NASDAQ:IREN) said it has so far installed 41 EH/s of miners. In the third quarter of fiscal year 2025, IREN Ltd. (NASDAQ:IREN) grew its net income after tax by 181 percent to $24.2 million from $8.6 million in the same period last year. Revenues from Bitcoin mining soared by 164 percent to $141.2 million from $53.4 million year-on-year. While we acknowledge the potential of IREN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14 hours ago
- Business
- Yahoo
IREN Ltd. (IREN) Soars for 7th Day, as Firm On Track to Hit Hash Rate Target
IREN Limited (NASDAQ:IREN) is one of the . IREN Ltd. extended its winning streak to a 7th straight day on Friday, jumping 6.79 percent to close at $14 apiece, as investors continued to load up positions before the end of the month on optimism that it would hit its average operating hash rate target of 50 EH/s. Earlier this month, IREN Limited (NASDAQ:IREN) announced that it was on track to hit 50 EH/s of operating hash rate by the end of June, or a 30-percent improvement from the 38.4 EH/s hash rate logged last month. A table full of technology, with bitcoin mining rigs and a laptop showing a financial graph. According to the company, a 50 EH/s generates $977 million in annualized mining revenue at current mining economics. As of June 5, 2025, IREN Limited (NASDAQ:IREN) said it has so far installed 41 EH/s of miners. In the third quarter of fiscal year 2025, IREN Ltd. (NASDAQ:IREN) grew its net income after tax by 181 percent to $24.2 million from $8.6 million in the same period last year. Revenues from Bitcoin mining soared by 164 percent to $141.2 million from $53.4 million year-on-year. While we acknowledge the potential of IREN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
