$IREN 20.85, up 0.73% in a day. What really matters isn't the gain—it's whether it can hold 20.25.
After the earnings report came out, the stock was initially hammered down to 17.18, then snapped back to 20.48 in a single candle. Trading volume was 24.62 million shares, 18 times the median of the previous 71 candles.
In the same earnings report, AI Cloud grew from 71 million to 200 million this quarter, an increase of 129 million. But total revenue only rose from 137 million to 228 million, because the contraction in mining ate up 30% of the additional revenue.
Mining now accounts for just 12.3% of revenue, down from 48.9% last quarter. I got that figure by dividing 28 by 228.
A lot of people still think of it as a mining stock, but the coin-selling business has shrunk to 12%. What does such high volume tell us? That buyers stepped in when it was sold off.
If it holds above 21.71, watch 25.39; if it breaks below 20.25, watch 18.49. If you're holding, put your stop-loss below 20.25. Don't chase it.
$BTC is just its raw material now, no longer its story. Are you still valuing it as a mining stock?
Original: https://www.sec.gov/Archives/edgar/data/1878848/000187884826000065/irenreportsq1-fy27result.htm
After the earnings report came out, the stock was initially hammered down to 17.18, then snapped back to 20.48 in a single candle. Trading volume was 24.62 million shares, 18 times the median of the previous 71 candles.
In the same earnings report, AI Cloud grew from 71 million to 200 million this quarter, an increase of 129 million. But total revenue only rose from 137 million to 228 million, because the contraction in mining ate up 30% of the additional revenue.
Mining now accounts for just 12.3% of revenue, down from 48.9% last quarter. I got that figure by dividing 28 by 228.
A lot of people still think of it as a mining stock, but the coin-selling business has shrunk to 12%. What does such high volume tell us? That buyers stepped in when it was sold off.
If it holds above 21.71, watch 25.39; if it breaks below 20.25, watch 18.49. If you're holding, put your stop-loss below 20.25. Don't chase it.
$BTC is just its raw material now, no longer its story. Are you still valuing it as a mining stock?
Original: https://www.sec.gov/Archives/edgar/data/1878848/000187884826000065/irenreportsq1-fy27result.htm
