Iren reports sharp drop in Bitcoin mining revenue as AI cloud sales surge
Image: Crypto.newsIREN announced quarterly results showing Bitcoin mining revenue fell to $28 million, down from $67 million. AI cloud revenue rose to $200 million, up from $71 million. Total revenue increased to $228 million. The company posted a net loss of $263 million, narrower than the prior quarter. Shares dropped about 17% to $18.03. IREN plans to complete its shift away from mining by the end of 2026.
Key points
- AI cloud revenue increased to $200 million, up 182% from $71 million.
- Total quarterly revenue rose to $228 million, while net loss narrowed to $263 million.
Why it matters
The shift reduces Bitcoin mining output from IREN, affecting its contribution to network hash rate, while the AI cloud growth may reshape the company's revenue focus for investors.
What's unclear
The amount of Bitcoin mining capacity IREN will retain after the transition is not disclosed.
The long‑term profitability of the AI cloud business remains uncertain.
Price context · BTC
At publication
$75,728.00
Now
$75,684.00
Change since
−0.06%
7 days · dashed line = publication
Sources · 3 publishers
Crypto.news
Tier 2
IREN stock falls 17% as Bitcoin mining revenue drops 58%
NewsBTC
Tier 2
IREN’s Bitcoin Mining Revenue Falls as AI Cloud Sales Nearly Triple
Coverage timeline
- First reported by The Block
- Also reported by Crypto.news
- CryptoVideos brief published
How this page is checked. AI drafted this brief from selected independent reports. Automated checks compare numbers, source coverage and topic terms, but may miss errors. Publication and evidence refreshes run automatically. Read the linked reports for context. Report an error
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