IREN soars 11% after mining more Bitcoin than MARA in July

Shares in IREN Ltd closed trading on Wednesday up 11.4% after it reported mining more Bitcoin than MARA Holdings in July.

Shares in IREN Ltd popped 11.4% after the Bitcoin miner posted $86 million in revenue for July, outperforming industry heavyweight MARA Holdings in Bitcoin production.

On Wednesday, IREN reported mining 728 Bitcoin (BTC) in July, beating MARA’s 703 BTC mined over the same period despite having a smaller deployed hashrate — 50 exahashes per second (EH/s) compared to MARA’s 58.9 EH/s.

IREN reported an average hashrate over July of 45.4 EH/s, signalling that a majority of its machines stayed online and productive throughout the month.

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