🔴 IREN is trading 7.8% down in pre-market after revenue miss and $684 million loss

IREN is trading 7.8% down now at $37.65 after August 27 results showed revenue below consensus and a $684 million loss.

• Fourth-quarter revenue was $137.2 million versus the $140.75 million consensus estimate.
• AI Cloud revenue more than doubled sequentially to $70.5 million; contracted ARR expectations rose above $4 billion.
• Investors appear focused on $450.4 million in non-cash impairments tied to retiring Bitcoin-mining hardware for AI infrastructure; Bitcoin and Ethereum fell only 0.36% and 0.03%, respectively, since the prior close.