IREN - Co-Founder & Co-CEO Daniel Roberts Q&A - FY25 Earnings & Outlook!
Description
IREN achieves record-breaking financial results with FY25 revenue hitting $501 million, up 168% year-on-year, and Q4 standalone revenue of $187 million. The company has scaled to a billion-dollar annualized revenue run rate for Bitcoin mining while simultaneously building a $250 million AI cloud services business.
• Expanded contracted grid-connected power to almost 3 gigawatts with a multi-gigawatt pipeline
• Achieved 50 exahash of Bitcoin mining capacity, hitting targets that many thought impossible
• Procured 10,900 GPU servers from NVIDIA for AI cloud services
• Secured preferred partner status with NVIDIA for cloud service provision
• Built proper data centers rather than container-based solutions, allowing consistent performance even during summer heat
• Achieved industry-leading power usage effectiveness (PUE) of 1.1 in British Columbia facilities
• Vertical integration provides competitive advantage by eliminating co-location fees and improving service response times
• Successfully challenging industry assumptions about data center locations, proving that digital distance (latency) matters more than physical location
• Secured 100% lease financing for GPU purchases at single-digit interest rates
• Maintaining strategic flexibility to allocate computing resources to highest-return opportunities
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