IREN, formerly Iris Energy, reported record bitcoin mining revenue of $184.1 million for the fiscal year ending June 30, 2024, a 144% increase from the previous year, driven by nearly doubling its self-mining capacity to 10 EH/s. The company mined a record 4,191 BTC and aims to reach 30 EH/s by the end of 2024 with new equipment. IREN also introduced AI cloud services, generating $3.1 million in revenue. Despite rising costs, the company significantly improved its adjusted EBITDA to $54.7 million and reduced its net loss to $29 million, holding $404.6 million in cash with no debt. Following these results, IREN’s stock rose 5.5% in pre-market trading. The Block