Iris Energy (IREN) has released an update.

Iris Energy has reported a 32% increase in monthly revenue to $28.2 million, driven by a ramp-up in operating hashrate to 21 EH/s and higher Bitcoin prices. The company mined 439 Bitcoins in October while continuing to expand its data center operations, aiming for 31 EH/s in the fourth quarter of 2024. With new GPU installations and cost reductions in electricity, Iris Energy is positioning itself strongly in both AI cloud services and Bitcoin mining.

For further insights into IREN stock, check out TipRanks’ Stock Analysis page.

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