IREN Bitcoin Hashrate Surpasses 50 EH/s, Entering the Top Tier of Global Mining Companies and Expanding AI Infrastructure Simultaneously
2025/07/01 11:50According to ChainCatcher, as reported by The Block, publicly listed Bitcoin mining company IREN has announced that its proprietary Bitcoin hashrate has reached 50 EH/s, accounting for approximately 6% of the total network hashrate (842 EH/s), thus achieving its mid-year target. This scale ranks fourth in the industry, behind only Marathon Digital (57.3 EH/s), CleanSpark (50 EH/s), and Riot Platforms (33.7 EH/s). Of its 750MW mining facility in Texas, 650MW is already operational, driving a nearly 50-fold increase in hashrate over the past 30 months.
IREN Co-CEO Daniel Roberts stated that the 50 EH/s milestone demonstrates the company’s efficient delivery capabilities in energy and data center infrastructure. In the second quarter, the company’s Bitcoin mining cost was $41,000 per coin, benefiting from 15 J/TH energy-efficient equipment and renewable energy advantages. With the current Bitcoin price at approximately $106,542, this low-cost structure provides resilience against market volatility.
The company’s AI transformation strategy is also underway: a 50MW liquid-cooled AI data center (Horizon 1) will be built at the Texas site, with operations planned for Q4 2025. IREN will serve AI clients through a GPU hosting model and plans to issue $450 million in convertible senior notes to support its expansion.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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