IREN Outperforms MARA in July Bitcoin Mining, Expands into AI Cloud Services

IREN soars 11% after mining more Bitcoin than MARA in July

Shares in IREN Ltd popped 11.4% after the Bitcoin miner posted $86 million in revenue for July, outperforming industry heavyweight MARA Holdings in Bitcoin production. On Wednesday, IREN reported mining 728 Bitcoin (BTC) in July, beating MARA's 703 BTC mined over the same period despite having a smaller deployed hashrate -- 50 exahashes per second (EH/s) compared to MARA's 58.9 EH/s. IREN reported an average hashrate over July of 45.4 EH/s, signalling that a majority of its machines stayed online and productive throughout the month. IREN's strong results come amid a rise in mining difficulty of late, driving up energy consumption and putting pressure on miners' profitability unless they adapt with more efficient equipment or lower energy costs. MARA's performance in July underperformed from June but came on the back of solid second-quarter earnings that saw its revenue jump 64% year-on-year to $238 million. It also holds the second-largest Bitcoin treasury at 50,000 BTC, trailing only Michael Saylor's Strategy. Shares in IREN Ltd (IREN) closed trading on Wednesday up 11.4% to $18.32, while most rival Bitcoin miners closed the day at gains between 1% and 5%. The news also pushed IREN's market cap to $4.11 billion, the second-highest among public Bitcoin miners, overtaking Riot Platforms and Core Scientific and nestling behind only MARA. IREN said $2.3 million of its total $86 million revenue in July came from its expanding artificial intelligence cloud business, part of the firm's plans to diversify beyond Bitcoin mining. IREN co-founder and co-CEO Daniel Roberts said its seeing "accelerating interest" in its NVIDIA Blackwell GPUs made for powering AI. IREN purchased 2,400 of the GPUs in early July, with Roberts adding its seen an initial delivery of 256 units. Related: Cango posts 'massive' July Bitcoin haul, boosting corporate treasury Roberts added the firm running Bitcoin mining rigs and GPUs side-by-side "underscores the adaptability of our infrastructure and our ability to capture the market opportunity ahead." IREN's July results come around 12 months after short-selling firm Culper Research said IREN was "wildly overvalued" and the company talked a "big game" about high-performance computing without investing enough to compete seriously in AI. Culper compared IREN's efforts to competing to win the Monaco Grand Prix but arriving at the track in a Toyota Prius. Since then, IREN shares fell from $12.31 to as low as $5.59 in April, but have rallied over 227% to $18.32 in the past four months.

IREN Stock Is Surging Wednesday: Here's Why - IREN (NASDAQ:IREN)

IREN Ltd 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 BTC/USD 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. Read Next: Fundstrat's Tom Lee: Owning Bitcoin Is Like Owning Land Under A McDonald's Photo: Tigarto/Shutterstock.com IRENIREN Ltd$17.878.63%Stock Score Locked: Edge Members Only Benzinga Rankings give you vital metrics on any stock - anytime. Unlock RankingsEdge RankingsMomentum93.41GrowthN/AQualityN/AValue54.44Price TrendShortMediumLongOverview$BTCBitcoin - United States dollar$115419.741.15% This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs