Iren (IREN) Operating Expenses (2021 - 2026)
Iren's (IREN) quarterly Operating Expenses came in at $128.3 million in Q2 2026, down 24.98% year-over-year from $171.0 million in Q2 2025, and up 56.88% quarter-over-quarter from $81.8 million in Q1 2026.
Analysis
Iren (IREN) Operating Expenses (2021 - 2026) Analysis & Trends
Iren (IREN) has reported Operating Expenses for 6 consecutive years, with $128.3 million the latest figure, recorded in Q2 2026.
- On a quarterly basis, Operating Expenses fell 24.98% year-over-year to $128.3 million in Q2 2026; TTM through Jun 2026 was $449.1 million, a 175.63% increase from a year earlier, with the FY2026 full-year figure at $449.1 million, up 229.12% from the prior year.
- Operating Expenses was $128.3 million for Q2 2026 at Iren, up from $81.8 million in the prior quarter.
- Over five years, Operating Expenses peaked at $171.0 million in Q2 2025 and troughed at -$11.5 million in Q4 2022.
- A 5-year average of $34.3 million and a median of -$1.9 million in 2023 frame the typical range for Operating Expenses.
- Across the five-year window, Operating Expenses sank 833.39% in 2022 and jumped 5950.27% in 2025, its largest moves.
- Over 5 years, Operating Expenses stood at -$11.5 million in 2022, then surged by 85.51% to -$1.7 million in 2023, then plunged by 78.68% to -$3.0 million in 2024, then surged by 3486.72% to $100.8 million in 2025, then gained by 27.29% to $128.3 million in 2026.
- The last three Operating Expenses figures came in at $128.3 million (Q2 2026), $81.8 million (Q1 2026), and $100.8 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Bitmine Immersion Technologies | 57.18 Bn | 56.84 Bn | 40.81 Mn | 52.67 Mn |
| 2 | Iren | 33.35 Bn | 25.78 Bn | 103.89 Mn | 128.25 Mn |
| 3 | Hut 8 | 12.15 Bn | 5.67 Bn | 48.04 Mn | 78.04 Mn |
| 4 | Riot Platforms | 8.12 Bn | 7.57 Bn | 84.97 Mn | 413.67 Mn |
| 5 | Argo Blockchain | 6.30 Bn | 6.30 Bn | - | - |
| 6 | MARA Holdings | 4.58 Bn | 4.22 Bn | - | 695.95 Mn |
| 7 | Cleanspark | 3.51 Bn | 3.30 Bn | - | 370.41 Mn |
| 8 | Bitdeer Technologies | 2.82 Bn | 2.36 Bn | -8.53 Mn | -93.21 Mn |
| 9 | Keel Infrastructure | 2.20 Bn | 2.20 Bn | -86.75 Mn | 31.31 Mn |
| 10 | HIVE Digital Technologies | 831.06 Mn | 592.03 Mn | -29.49 Mn | 18.98 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 128.25 Mn |
| Mar 31, 2026 | 81.75 Mn |
| Dec 31, 2025 | 100.76 Mn |
| Sep 30, 2025 | 138.36 Mn |
| Jun 30, 2025 | 170.95 Mn |
| Mar 31, 2025 | -2.67 Mn |
| Dec 31, 2024 | -2.98 Mn |
| Sep 30, 2024 | -2.37 Mn |
| Jun 30, 2024 | -3.22 Mn |
| Mar 31, 2024 | -1.92 Mn |
| Dec 31, 2023 | -1.67 Mn |
| Sep 30, 2023 | -1.85 Mn |
| Jun 30, 2023 | -1.22 Mn |
| Mar 31, 2023 | -1.29 Mn |
| Dec 31, 2022 | -11.49 Mn |
| Jun 30, 2022 | -3.49 Mn |
| Mar 31, 2022 | -2.29 Mn |
| Dec 31, 2021 | -1.23 Mn |