Data-center operator IREN Limited reported record fiscal-year 2025 revenue of $501 million, a 168% jump from the prior year, and swung to a net profit of $86.9 million. Adjusted EBITDA rose nearly fivefold to $269.7 million as the company expanded renewable-powered facilities to 810 MW and lifted Bitcoin mining capacity to 50 exahash per second, putting the crypto segment on course for roughly $1 billion in annualized revenue at current prices. Alongside the results, IREN said it has secured Nvidia preferred-partner status and financing that covers 100% of hardware costs for an additional 2,400 GPUs, part of a broader plan to raise its AI cloud fleet to 10,900 units by December 2025. The latest purchase, valued at $168 million, includes both air-cooled and liquid-cooled systems and follows earlier deployments that brought installed AI capacity to 1,900 GPUs. Management projects the enlarged GPU fleet could generate $200–250 million in annualized AI cloud revenue, complementing the company’s bitcoin operations and underscoring its push to diversify into high-performance computing. Construction is under way on liquid-cooled data centers in British Columbia and Texas to accommodate the Nvidia GB300 systems, while the 2-GW Sweetwater Hub in Texas remains on track for phased completion beginning in 2026.