Crypto miner IREN, which is shifting toward its neocloud business, reported results for fiscal 2026 that came in below Wall Street expectations for the fourth quarter. Revenue was $137 million, missing the $157 million consensus forecast. Adjusted EBITDA was $19.2 million, about 53% below expectations. The release showed a sharp mix shift inside the business: AI cloud services revenue rose quarter over quarter from $33.6 million to $70.5 million, while Bitcoin mining revenue fell from $111 million to $66.7 million. Following the results, IREN shares dropped more than 8% in after-hours trading. The figures point to continued growth in the company’s AI cloud segment even as its Bitcoin mining business generated less revenue during the period.
Crypto miner IREN, which is transitioning toward its neocloud business, reported fiscal 2026 results with fourth-quarter revenue of $137 million, below Wall Street’s $157 million estimate. Shares fell more than 8% in after-hours trading.
Adjusted EBITDA came in at $19.2 million, about 53% below expectations. Within the quarter, AI cloud services revenue increased from $33.6 million to $70.5 million on a quarter-over-quarter basis, while Bitcoin mining revenue declined from $111 million to $66.7 million.
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