IREN Ltd
IRENQ3 2023(IREN Q4 FY2023)Estimated0% AI
AI Revenue %
0%
Source: SEC EDGAR 20-F Filing
View 20-F on SEC.govAnalysis
IREN Q2 FY2024 (Oct-Dec 2023) had zero or negligible AI Cloud Services revenue. During this quarter, the company announced acquisition of 7,000 Bitmain T21 miners (6-K Nov 30, 2023) and was focused entirely on Bitcoin mining expansion. No GPU purchases for AI/HPC had been announced yet. The 20-F FY2024 (covering full year ended Jun 30, 2024) states the company generated '98% (2023: 100%)' of revenue from Bitcoin mining, confirming FY2023 (ended Jun 2023) was 100% Bitcoin. The first mention of AI cloud services revenue begins in fiscal H2 2024 (Jan-Jun 2024). IREN uses a June 30 fiscal year; this quarter (Q2 FY2024) corresponds to calendar Q4 2023.
Analyzed by claude-opus-4-6
Quoted Figures
The Group generated 98% (2023: 100%, 2022: 100%) of its revenue through the provision of computing power to three (2023: two, 2022: two) Bitcoin mining pools for the year ended 30 June 2024
20-F FY2024, Note 4 Operating Segments
Iris Energy is acquiring 7,000 new-generation T21 miners from Bitmain Technologies Delaware Limited for a purchase price of $14/TH ($18.6 million)
6-K dated November 30, 2023
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 — sole revenue source)
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix