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IREN stock jumps 18% as AI cloud revenue nearly triples to $200M, shifting focus from Bitcoin mining.

Protocol Fundamentals
06 Nov 2026, 18:42 WIB
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Bullish
IREN stock jumps 18% as AI cloud revenue nearly triples to $200M, shifting focus from Bitcoin mining.

IREN's stock surged 18% after reporting a 182% increase in AI cloud revenue to $200 million for the quarter ending September 30, now making up 88% of its sales. This marks a significant shift from Bitcoin mining, whose revenue dropped from $67 million to $28 million. Despite a net loss of $263 million, the company sees strong growth in AI infrastructure, with a $20.3 billion revenue backlog and plans for $15 billion in capital spending in 2027. However, delays in Microsoft AI deployment and financing needs pose risks to sustaining this momentum.

Bitcoin miner IREN's recent stock surge follows a significant revenue shift, but for readers following the broader cryptocurrency market, here is Pluang's snapshot as of Nov 06, 2026 23:22 WIB: Out of 50 major cryptocurrencies tradable on Pluang, 36 rose and 13 fell today. Notable gainers include ZIL (Zilliqa) up 14.73% at Rp33 with an 82% buy order activity, BAL (Balancer) up 11.14% at Rp16.297, and EOS (EOS.IO) up 8.13% at Rp12.649. The highest one-day change among these was ZIL's 14.73%.

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