Bitcoin mining company IREN has achieved a significant operational milestone, hitting its midyear target of 50 exahashes per second (EH/s) in installed self-mining capacity. This advancement not only cements IREN’s status among the top mining firms but also aligns with its broader ambition to expand into artificial intelligence (AI) infrastructure.
From 31 EH/s to 50 EH/s in Six Months
IREN’s leap from 31 EH/s at the end of 2024 to 50 EH/s by mid-2025 marks an aggressive and well-executed scaling strategy. The company credits this progress to its 750-megawatt (MW) flagship site in Childress, Texas, which now serves as the backbone of its mining operations.
“With 50 EH/s of mining expansion complete, we’re now turning to our next frontier,” said IREN’s co-founder, referencing the firm’s pivot toward AI-powered data services.
Hashrate—a key performance metric in the Bitcoin network—measures the computational power used to mine BTC. A higher hashrate increases a miner’s odds of successfully validating transactions and earning Bitcoin block rewards. IREN now matches rival CleanSpark, which also hit the 50 EH/s mark last month.
New Horizon: AI Data Center Set for Q4 Delivery
Following its mining success, IREN is directing focus to its Horizon 1 project—a 50MW AI data center under construction at the Childress site. The facility is scheduled for delivery in Q4 2025, signaling IREN’s intent to diversify revenue streams by tapping into AI compute demand.
This AI pivot aligns with industry trends where major miners are repurposing infrastructure to support high-growth sectors like machine learning, big data analytics, and cloud computing. The move is expected to reduce dependency on volatile crypto markets while leveraging IREN’s existing energy and cooling infrastructure.
Market Reaction and Outlook
IREN’s stock closed over 4% higher at $14.57 on Monday following the announcement. However, pre-market trading saw a slight dip of 4.12%, reflecting short-term volatility amid broader tech-sector swings.
With its AI infrastructure expansion underway, IREN is strategically positioning itself at the intersection of blockchain and artificial intelligence, a space with growing institutional interest and scalable long-term potential.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.