IREN mines 533 bitcoins in March, pauses further bitcoin mining expansion

Seeking Alpha News (Fri, 04-Apr 7:39 AM)

  • Bitcoin mining data centers operator IREN (NASDAQ:IREN) said on Friday that it mined 533 bitcoins in March, and was pausing further bitcoin mining expansion.
  • Comparatively, the company mined 459 bitcoins in February.
  • Shares were trading -4.80% pre-market at $5.75.
  • Revenue generated per bitcoin came at $85,012 for the month, down from $95,570 in the month ago.
  • Average operating hashrate stood at 30.3 EH/s, compared to the previous month's 28.7 EH/s.
  • "As we approach our 50 EH/s milestone, we’re pausing further bitcoin mining expansion and narrowing our focus on scaling our AI cloud services and AI data center businesses," said Co-CEO Daniel Roberts.
  • IREN generated a revenue of $45.3M through bitcoin mining and $1.6M through AI cloud services in March.