IREN Limited (NASDAQ: IREN) Live Earnings Coverage

IREN Limited (Nasdaq: IREN) reports Q1 2025 earnings tonight after delivering a surprise profit in Q4. Street expectations are modest, with no published consensus — but all eyes are on whether the company can sustain profitability amid fluctuating bitcoin prices and energy costs.

In Q4 2024, IREN posted $119.6 million in revenue and $0.06 EPS, a sharp turnaround from the previous three quarters of losses. Key drivers included rising mining volume and improved energy arbitrage. For Q1, investors will focus on bitcoin production metrics, power pricing, and fleet efficiency.

Another important area is growth beyond mining — particularly IREN’s high-performance computing (HPC) and infrastructure leasing strategy. If the company provides detail on diversification efforts or signs new hosting contracts, it could help solidify the case for a higher-margin profile.

Gross margin, hash rate, and energy contract disclosures will all be key to assessing earnings quality. After a long downtrend, IREN stock has stabilized. A clean quarter could validate its strategic pivot and provide upside momentum.

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