IREN Shares Jump 11% After Beating MARA in Bitcoin Output, Expands AI Focus
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Description
Shares of Bitcoin miner IREN Ltd surged 11.4% on Wednesday after the company posted $86 million in revenue for July, surpassing industry giant MARA Holdings in monthly Bitcoin production. The Australian-based firm reported mining 728 BTC, outpacing MARA’s 703 BTC, despite operating with a smaller deployed hashrate—50 EH/s compared to MARA’s 58.9 EH/s. IREN maintained an average hashrate of 45.4 EH/s in July, indicating strong operational uptime across its fleet. This outperformance comes at a ti...
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