[IREN's Annual Bitcoin Mining Revenue Expected to Exceed $1 Billion, Stock Surges 12% After Hours] Golden Finance reports that Bitcoin mining company IREN (formerly Iris Energy) has released its quarterly results, with revenue of $187.3 million, net profit of $176.9 million, and EBITDA of $241.4 million. The company's FY25 fiscal year EBITDA is projected to grow more than tenfold. IREN anticipates its annual Bitcoin mining revenue will reach $1 billion, while its AI cloud business has achieved an annualized revenue close to $250 million. IREN has replaced ASICs used for Bitcoin mining with GPUs at several mining centers to support its AI cloud business and has invested in building a liquid-cooled AI data center named "Horizon," which is expected to go online in Q4 2025. Another facility, named Sweetwater, is expected to be operational by the end of 2027. In July, IREN mined 728 Bitcoins, surpassing competitor MARA's 703 Bitcoins, with an equipment utilization rate exceeding 90%, making it a leader in computing power among mining companies. IREN's Nasdaq-listed stock closed at $23.02 on Thursday, with a market capitalization of $5.4 billion, and surged over 12% in after-hours trading.