Bitcoin Minor Aylen recorded its highest quarterly revenue ever, bringing $187.3 million in the previous quarter. This contributed to a record $501 million revenue for the fiscal year, up nearly 14% in post-hours trading.
Quarterly revenue for the month ended June 30th increased 226% year-on-year, helping the company return to profitability with a net profit of $176.9 million, Aylen said in a report Thursday.
Surge was driven by growth in the Bitcoin (BTC) mining business, but the company is moving to deepen its AI space footprint as a new “priority partner” for AI giant Nvidia.
IREN shares reached $23.04 on Thursday, reaching nearly 3.1%, followed by an additional 13.9% outside business hours, Google Finance data shows. Stocks have been steadily rising this month, setting new highs repeatedly.
Aylen’s AI expansion reflects broader industry trends as Bitcoin miners continue to navigate the recent rise in mining difficulties that have driven energy use and narrowed profit margins.
Aylen was the top Bitcoin miner in 2025
Aylen recorded $1 billion in annual revenues “under current mining economics,” defeating the industry’s heavyweight Mala Holdings in BTC mining production in July, mining 728 BTC compared to Mala’s 703 BTC.
Aylen also ticked 50 exhahash per second with installed Bitcoin mining capacity, but paused further expansion to focus on AI.
Iren is partnering with the industry giant Nvidia
Aylen increased its GPU count to 1,900 during the quarter, becoming “Nvidia’s preferred partner,” which means an increase of 132% year-on-year, allowing more direct access to Nvidia’s hardware.
Eilen will earn money from AI businesses by renting GPU power for machine learning tasks, training large language models, and supporting businesses that require high-performance AI calculations.
Aylen plans to spend another $200 million in the coming months to increase his GPU count to 10,900 and reach his target of $200-$250 million in annual AI revenue by December.
This represents an 8-10-fold increase in AI revenue compared to what we did between April and June, which brought about around $25 million each month.
For a long time, Aylen is looking to install 60,000 Nvidia Blackwell GPUs on its British Columbia site in Canada.
Aylen once remained “overrated”
Aylen’s recent strong performance comes about a year after Calper Research, a short-selling company, criticized Aylen for talking about “big games” about high-performance computing without investing enough to seriously compete in AI.
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Calper compared Aylen’s efforts to compete to win the Monaco Grand Prix, but arrived at the Toyota Prius truck.
Since then, Aylen’s shares have fallen to $5.59 from $12.31 in April, but have recovered 312.2% over the past four months.
Meanwhile, Aylen recently reached a confidential settlement with creditor Nydig, closing off a nearly three-year legal battle that exceeded $105 million on default equipment loans associated with around 35,000 Antminer S19s.
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