Iren (IREN) Gross Margin (2021 - 2026)
Iren's (IREN) quarterly Gross Margin came in at 75.71% in Q2 2026, up 394.0% year-over-year from 15.33% in Q2 2025, and up 4.54% quarter-over-quarter from 72.42% in Q1 2026.
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Iren (IREN) Gross Margin (2021 - 2026) Analysis & Trends
Iren (IREN) has reported Gross Margin for 6 consecutive years, with 75.71% the latest figure, recorded in Q2 2026.
- On a quarterly basis, Gross Margin rose 394.0% year-over-year to 75.71% in Q2 2026; TTM through Jun 2026 was 68.92%, a 66.0% increase from a year earlier, with the FY2026 full-year figure at 68.92%, up 66.0% from the prior year.
- Gross Margin was 75.71% for Q2 2026 at Iren, up from 72.42% in the prior quarter.
- Over five years, Gross Margin peaked at 91.5% in Q1 2024 and troughed at 25.96% in Q2 2024.
- A 5-year average of 61.23% and a median of 72.19% in 2024 frame the typical range for Gross Margin.
- Across the five-year window, Gross Margin plunged 4793 bps in 2024 and surged 9772 bps in 2025, its largest moves.
- Over 5 years, Gross Margin stood at 73.65% in 2022, then gained by 16 bps to 85.71% in 2023, then decreased by 16 bps to 72.19% in 2024, then decreased by 11 bps to 64.39% in 2025, then gained by 18 bps to 75.71% in 2026.
- The last three Gross Margin figures came in at 75.71% (Q2 2026), 72.42% (Q1 2026), and 64.39% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Bitmine Immersion Technologies | 57.18 Bn | 56.84 Bn | 40.81 Mn | 87.70% |
| 2 | Iren | 33.35 Bn | 25.78 Bn | 103.89 Mn | 75.71% |
| 3 | Hut 8 | 12.15 Bn | 5.67 Bn | 48.04 Mn | 64.11% |
| 4 | Riot Platforms | 8.12 Bn | 7.57 Bn | 84.97 Mn | 48.77% |
| 5 | Argo Blockchain | 6.30 Bn | 6.30 Bn | - | - |
| 6 | MARA Holdings | 4.58 Bn | 4.22 Bn | - | - |
| 7 | Cleanspark | 3.51 Bn | 3.30 Bn | - | - |
| 8 | Bitdeer Technologies | 2.82 Bn | 2.36 Bn | -8.53 Mn | -3.73% |
| 9 | Keel Infrastructure | 2.20 Bn | 2.20 Bn | -86.75 Mn | -285.09% |
| 10 | HIVE Digital Technologies | 831.06 Mn | 592.03 Mn | -29.49 Mn | -37.27% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 75.71% |
| Mar 31, 2026 | 72.42% |
| Dec 31, 2025 | 64.39% |
| Sep 30, 2025 | 66.43% |
| Jun 30, 2025 | 71.76% |
| Mar 31, 2025 | 71.03% |
| Dec 31, 2024 | 72.19% |
| Sep 30, 2024 | 39.62% |
| Jun 30, 2024 | -25.96% |
| Mar 31, 2024 | 91.50% |
| Dec 31, 2023 | 85.71% |
| Sep 30, 2023 | 87.55% |
| Jun 30, 2023 | -15.61% |
| Mar 31, 2023 | 88.00% |
| Dec 31, 2022 | 73.65% |
| Dec 31, 2021 | 90.50% |