Bitcoin Miner IREN Shares Fall as AI Conversion Costs Mount
In brief AI cloud revenue reached $70.5 million in the fiscal fourth quarter, surpassing Bitcoin mining revenue for the first time. IREN reported a $684 million quarterly loss, including $450.4 million in asset impairments.
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Key Facts
- Fact 1: In brief AI cloud revenue reached $70.5 million in the fiscal fourth quarter, surpassing Bitcoin mining revenue for the first time.
- Fact 2: IREN reported a $684 million quarterly loss, including $450.4 million in asset impairments.
- Fact 3: Of IREN’s $4 billion in contracted annualized run-rate revenue, $1 billion was operating as of Aug.
- Fact 4: 26.
In brief AI cloud revenue reached $70.5 million in the fiscal fourth quarter, surpassing Bitcoin mining revenue for the first time. IREN reported a $684 million quarterly loss, including $450.4 million in asset impairments.
Of IREN’s $4 billion in contracted annualized run-rate revenue, $1 billion was operating as of Aug. 26. IREN shares fell more than 8% after the Bitcoin miner turned AI data center operator reported a $684 million loss in its fiscal 2026 results.
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