💥 IREN shares fall as costly AI pivot overshadows Bitcoin mining
Bitcoin miner turned AI data center operator IREN saw its shares fall more than 8% after reporting a $684 million quarterly loss for fiscal 2026. The loss included $450.4 million in asset impairments, mostly related to retired Bitcoin mining hardware.
At the same time, IREN’s AI transition is gaining traction. AI Cloud revenue reached $70.5 million, surpassing Bitcoin mining revenue of $66.7 million for the first time and accounting for 51.4% of quarterly revenue. Mining revenue fell 40% as the company converted mining sites for AI workloads.
IREN now has around $4 billion in contracted annualized run-rate revenue, with $1 billion already operational as of August 26. The company also secured major GPU financing tied to its AI expansion.
Do you think IREN’s AI pivot can ultimately create more value than its Bitcoin mining business?
#IREN #Bitcoinmining #AI
#ThuyBNB
$BTC $BNB
Bitcoin miner turned AI data center operator IREN saw its shares fall more than 8% after reporting a $684 million quarterly loss for fiscal 2026. The loss included $450.4 million in asset impairments, mostly related to retired Bitcoin mining hardware.
At the same time, IREN’s AI transition is gaining traction. AI Cloud revenue reached $70.5 million, surpassing Bitcoin mining revenue of $66.7 million for the first time and accounting for 51.4% of quarterly revenue. Mining revenue fell 40% as the company converted mining sites for AI workloads.
IREN now has around $4 billion in contracted annualized run-rate revenue, with $1 billion already operational as of August 26. The company also secured major GPU financing tied to its AI expansion.
Do you think IREN’s AI pivot can ultimately create more value than its Bitcoin mining business?
#IREN #Bitcoinmining #AI
#ThuyBNB
$BTC $BNB
