IREN Limited reported a $638.8 million impairment on older Bitcoin mining equipment, causing its stock to drop 13% and triggering a selloff among AI data center peers like Applied Digital and TeraWulf, which fell around 7%. Despite strong revenue growth and long-term contracts, investors are re-pricing the sector's transition costs and capital expenditure risks. The broader data center ETF fell only 1%, highlighting that the selloff is concentrated in capital-heavy pure-play operators. Investors are advised to monitor stabilization and consider balancing exposure between pure plays and diversified data center funds.
IREN announced $4 billion in annual recurring revenue (ARR) from AI cloud contracts, far exceeding its current revenue of $137.2 million for fiscal Q4. Despite this, shares dropped nearly 10% after the company reported a net loss of $684 million, inc...
IREN Limited is transitioning from Bitcoin mining to AI cloud computing, aiming to bring most new capacity online by 2028. The company targets $4 billion in contracted annual recurring revenue (ARR) by year-end, with a data center pipeline that could...
IREN posted $137.2 million in Q4 revenue but reported a $684 million net loss, mainly due to accelerating its exit from Bitcoin mining. Despite missing revenue expectations, the company’s operating Annual Recurring Revenue (ARR) reached about $1 bill...
IREN Limited reported a $684 million net loss in Q4, largely due to a $450 million impairment, but saw AI Cloud revenue rise to $128.8 million with adjusted EBITDA of $245.7 million for the year. The company is shifting focus from Bitcoin mining to A...
IREN reported a $639 million impairment on its old Bitcoin mining equipment, causing a 6% stock drop despite its AI Cloud business more than doubling revenue to $128.8 million. The writedown led to a fiscal 2026 net loss of $702.6 million, overshadow...
