IREN Bitcoin hashrate exceeds 50 EH/s, entering the top tier of global mining companies, and is simultaneously expanding AI infrastructure.

According to The Block, publicly listed Bitcoin mining company $IREN announced that its proprietary Bitcoin hashrate reached 50 EH/s, accounting for approximately 6% of the total network hashrate (842 EH/s), completing its mid-year target. This hashrate 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 Texas mine, 650MW has been put into operation, driving a nearly 50-fold increase in hashrate within 30 months. $IREN Co-CEO Daniel Roberts stated that the 50 EH/s milestone confirms the efficient delivery capabilities of energy and data center infrastructure. The company's Bitcoin mining cost in the second quarter 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, the low-cost structure provides it with market volatility resistance. The synchronously advancing AI transformation strategy has been launched: a 50MW liquid-cooled AI data center (Horizon 1) will be built at the Texas mine, scheduled to be put into operation in the fourth quarter of 2025. The company adopts a GPU hosting model to serve AI customers and plans to issue $450.0 million in convertible preferred notes to support expansion in the near future. [ChainCatcher]