IREN Ltd Sees Revenue Surge Amid Shift in Data Center Strategy

IREN Ltd reported its fiscal year 2026 financial results on August 27. The company's revenue reached $707 million, a significant increase of 41.2% from $501 million in the prior year.

The net income swung to a loss of $(702.6) million, down from a profit of $86.9 million in fiscal 2025. Diluted EPS fell to $(2.22), compared to $0.39 in the previous year.

The revenue growth was driven by expansion of AI Cloud Services and higher bitcoin mining sales. IREN's installed bitcoin mining capacity was approximately 23.2 EH/s, equivalent to around 380MW.

The company is shifting its data center capacity from bitcoin mining toward AI Cloud Services, aiming to complete this transition by December 31, 2026.