Bitcoin Miner on Wall Street Loses $29 Million, Six Times Less Than Last Year
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IREN, the NASDAQ-listed Bitcoin miner (NASDAQ: IREN), has recently emerged as a notable player in the cryptocurrency market. Wall Street has recognized a substantial rise in revenue over the past year, primarily driven by the increased price of Bitcoin. According to recent survey results, revenues soared by 145% for the fiscal year ending June 30, 2024. Additionally, the amount of Bitcoins mined surged by an impressive 150%. IREN managed to reduce its net loss by 1.5%. The company is projected to experience growth six times greater by 2024, with revenue from Bitcoin mining surpassing $184.1 million.
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