IREN is trading 10.08% down now at $36.45 after fiscal fourth-quarter revenue missed expectations and the company reported a substantial loss tied partly to decommissioning Bitcoin-mining hardware.
- Revenue was $137.2 million versus $157.14 million consensus; adjusted loss was $0.41 per share versus an expected $0.34 loss.
- Management raised its contracted ARR target above $4 billion, while AI Cloud revenue surpassed Bitcoin-mining revenue.
- Bitcoin fell 0.56% since the previous close, adding sector pressure but not explaining the full decline; investors appear focused on execution costs and weaker legacy mining revenue.