IREN Stock Plummets on Q4 Revenue Miss Despite AI Cloud Surge

Shares of IREN Ltd., a bitcoin miner and AI infrastructure company, plummeted more than 8% in overnight trading after the firm reported weaker-than-expected fiscal fourth-quarter results.

The company's revenue fell short of Wall Street's consensus estimate, coming in at $137.2 million compared to the expected $157.14 million.

This decline reflects IREN's ongoing transition away from Bitcoin mining and toward AI Cloud services, with the latter business experiencing rapid growth.

Despite this shift, the company reported an adjusted loss of $0.41 per share, wider than analysts' expectations of a $0.34 per-share loss.