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Iris Energy IREN Bitcoin mining — Other direct expenses

Other product segments

AI Cloud Services
$803K+985%

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Other financials

Income statement

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Revenue$144.8M0.0%
Gross profit$104.9M+1.9%
Operating income-$233.5M-899%
Net income-$247.8M-1,435%
EPS (diluted)-$0.74-957%

Balance sheet

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Cash & equivalents$2.2B+1,101%
Total debt$399.2M
Total equity$2.7B+98.2%
Total assets$7.3B

Cash flow

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Operating cash flow$75.3M-19.1%
CapEx$949.2M+2,548%
Free cash flow-$873.8M-1,602%

Valuation

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Market cap$13.93B+241%
Enterprise value$12.12B+244%
P/E88.1×+41.2×
P/S18.4×+10.2×

Profitability

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Gross margin68.4%+3.9pp
Operating margin-54%-56.2pp
Net margin20.9%+13.4pp
FCF margin-193%-522pp

Returns & leverage

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Return on equity7.9%
Debt / equity0.1×
Current ratio3.7×

Where this comes from

Reported directly by Iris Energy in its filing.

Tagged under the XBRL concept us-gaap:OtherCostOfOperatingRevenue.

The official record: Iris Energy’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Iris Energy's bitcoin mining — other direct expenses?
Iris Energy (IREN) reported bitcoin mining — other direct expenses of $1.14M in Q1 2026.
How has Iris Energy's bitcoin mining — other direct expenses changed year-over-year?
Iris Energy's bitcoin mining — other direct expenses increased by 96.4% year-over-year, from $582K to $1.14M.
What is the long-term trend for Iris Energy's bitcoin mining — other direct expenses?
Over 2 years (2023 to 2025), Iris Energy's bitcoin mining — other direct expenses has grown at a 78.4% compound annual growth rate (CAGR), from $738K to $2.35M.
What does bitcoin mining — other direct expenses mean?
This category captures miscellaneous direct costs associated with the mining segment that are not classified as electricity or employee benefits. It may include site security, insurance, software licensing, or minor hardware repairs. It provides visibility into the ancillary costs required to maintain operational uptime.