IREN Ltd
IRENQ1 2025(IREN Q2 FY2025)Derived3.7% AI
AI Revenue %
3.7%
AI Fair Value
$220.5M
AI Revenue (Q)
$6.9M
Total Revenue (Q)
$187.3M
Source: SEC EDGAR SEC Filing Filing
View SEC Filing on SEC.govAnalysis
IREN Q4 FY25 (Apr-Jun 2025) results disclose revenue by business line in supplemental reporting. Total revenue was $187.3M. Bitcoin mining revenue was $180.3M. AI Cloud Services revenue was $7.0M. Math: $7.0M / $187.3M = 3.74%. AI Cloud Services revenue nearly doubled quarter-over-quarter (from $3.6M to $7.0M), representing the most significant sequential jump yet. This acceleration aligns with expanded GPU deployments and new customer contracts. For full FY2025 (year ended June 30, 2025): total revenue was $501.0M, AI Cloud was $16.4M (3.3% of total), Bitcoin mining was $484.6M (96.7%). IREN uses a June 30 fiscal year; this quarter (Q4 FY25) corresponds to calendar Q2 2025.
Analyzed by claude-opus-4-6
Quoted Figures
FY2025 full year: AI Cloud Services revenue $16.4M (3.3% of total), Bitcoin mining revenue $484.6M (96.7%), total revenue $501.0M
IREN FY25 Full Year Results Press Release (August 2025)
AI Cloud Services revenue derived from supplemental business line disclosure
Segment Note — IREN reports Bitcoin Mining and AI Cloud Services as business activities
AI Products Identified (Ring 1)
AI Cloud Services (GPU cloud hosting — NVIDIA H100/H200 clusters for AI training and inference)
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
Bitcoin mining (ASIC-based cryptocurrency mining — primary revenue source)
Confidence Tier
DerivedCalculated from reported segments primarily serving AI