IREN Reports March Mining Revenue Increase 56% To $23.7M From February, Due To Increased Hashrate And Higher Bitcoin Price
Portfolio Pulse from Benzinga Newsdesk
IREN reported a significant increase in its mining revenue for March, totaling $23.7 million, which represents a 56% increase from February. This growth is attributed to an increased hashrate and a higher Bitcoin price.
April 04, 2024 | 11:54 am
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IREN's March mining revenue saw a substantial increase to $23.7 million, a 56% rise from February, driven by an increased hashrate and higher Bitcoin prices.
The significant increase in IREN's mining revenue is directly attributed to operational improvements and favorable market conditions, specifically the rise in Bitcoin prices. This positive financial performance is likely to be viewed favorably by investors, potentially leading to a short-term increase in IREN's stock price.
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