IREN Stock Is Surging Wednesday: Here's Why

IREN Ltd (NASDAQ:IREN) shares are moving higher during regular trading hours on Wednesday following the release of the company’s July 2025 monthly update.

IREN stock is on the move, climbing higher. See the chart here.

What To Know: IREN reported revenue of $86 million in July, supported by a significant increase in Bitcoin (CRYPTO: BTC) mining activity. The company mined 728 BTC, up from 620 BTC in June, with a revenue per Bitcoin mined of $114,891.

IREN said its installed hashrate reached 50 EH/s. The company had an average operating hashrate of 45.4 EH/s in July, up from 41.1 EH/s in June.

The company also reported a hardware profit of $66 million, driven by strong Bitcoin mining economics and demand for AI Cloud services. The hardware profit margin for Bitcoin mining was 76%, while AI Cloud services maintained a 98% margin.

IREN’s AI Cloud services revenue increased slightly to $2.3 million, with the company expanding its AI Cloud infrastructure. The addition of 2.4k Nvidia B200/B300 GPUs and a 50 megawatt liquid-cooled AI data center, set for completion in the fourth quarter, underscores its growth trajectory.

“We are observing accelerating interest in our newly procured Blackwell GPUs, with the initial delivery of 256 B200 GPUs already contracted. Our ability to run ASICs and GPUs side-by-side at Prince George underscores the adaptability of our infrastructure and our ability to capture the market opportunity ahead,” said Daniel Roberts, co-founder and co-CEO of IREN.

IREN Price Action: IREN shares were up 8.6% at $17.87 at the time of publication Wednesday, according to Benzinga Pro.

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