Bitcoin miner IREN has announced its financial results for the year ending June 30, 2025, projecting annual revenue to exceed $1 billion. The company reported a quarterly revenue of $187.3 million and a net profit of $176.9 million, with EBITDA reaching $241.4 million. This announcement led to a 12% increase in IREN's stock price during after-hours trading. IREN has transitioned from ASIC to GPU miners for its AI cloud operations at several mining centers, including those in British Columbia. The company is also investing in a liquid-cooled AI data center, Horizon, set to launch in Q4 2025, and a Sweetwater facility expected by 2027. IREN recently surpassed MARA in Bitcoin production and mining rig utilization, becoming the leading company in hash rate.