IREN Ltd. has released its monthly update for May 2025, reporting record monthly revenue and hardware profit. The company achieved a daily hardware profit of $1.6 million in May. IREN mined 627 Bitcoins during the month, an increase from 579 Bitcoins in April and 533 in March. The revenue per Bitcoin also saw a significant rise, reaching $103,345 in May, up from $86,522 in April and $85,012 in March. The company is on track to achieve an average operating hashrate of 50 EH/s by June 30, with the current average operating hashrate being 38.4 EH/s, compared to 36.6 EH/s in April and 30.3 EH/s in March. Additionally, IREN is continuing to scale its AI Cloud Services revenue and is progressing with its Horizon 1 AI Data Center, which is on schedule for delivery in Q4 2025. In terms of strategic transitions, IREN is preparing to transition to US domestic issuer status beginning July 1. The company is also making advancements in customer and financing workstreams. The updates reflect IREN's continued growth and operational expansion in the cryptocurrency and AI sectors.