IREN is trading 4.96% down now at $38.52 after fiscal fourth-quarter revenue missed estimates and the company reported a substantial loss tied largely to non-cash impairments from retiring Bitcoin-mining hardware.
- AI cloud revenue surpassed Bitcoin-mining revenue for the first time; management raised its 2026 ARR target above $4 billion.
- Bitcoin and Ethereum were slightly higher, while broader technology markets and AI-sector sentiment were positive, pointing to a company-specific selloff.
- The earnings release came after the August 27 regular session, making results the clearest catalyst for the after-hours reaction.