Iron borate ($\mathrm{FeB}{\mathrm{O}}_3$) is a unique material that simultaneously exhibits room-temperature magnetism and optical transparency in the visible spectrum, rendering it a promising candidate for applications in magnetic memory and magneto-optical devices. Traditionally classified as a weak ferromagnet with spin-canting confined to the $ab$ plane, recent investigations have revealed unconventional magnetic phenomena along the $c$ axis. In this work, we identify intricate $c$ axis magnetic behavior in $\mathrm{FeB}{\mathrm{O}}_3$, including anomalous paramagnetic characteristics and evidence of significant magnetic frustration. Temperature- and field-dependent measurements provide quantitative insights into the coercive field and remnant magnetization, key parameters critical for practical applications. Furthermore, we present the first magnetocaloric measurements of $\mathrm{FeB}{\mathrm{O}}_3$, revealing novel features: (1) a distinct magnetic entropy change, (2) detailed characteristics of the antiferromagnetic-to-paramagnetic phase transition at $T_N=347\mathrm{K}$, and (3) evidence of an additional transition at 305 K. Our findings suggest the presence of strong anisotropy in the $\mathrm{FeB}{\mathrm{O}}_3$ system, and the concomitant emergence of multiple magnetic states near $T_N$ upon heating, play a crucial role in these phenomena.

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• Ferromagnetism
• Magnetic anisotropy
• Magnetic phase transitions
• Magnetocaloric effect
• Antiferromagnets
• Borides
• Ferromagnets
• Magnetization measurements
• Raman spectroscopy
• Transmission electron microscopy
• X-ray diffraction