Episode Details

IREN’s bold pivot from bitcoin mining to AI cloud services is officially accelerating, despite a brutal financial quarter marked by a 5% revenue drop and a staggering $684 million net loss — mostly due to a $450 million write-off of old mining hardware. While earnings took a 68% hit, AI cloud revenue more than doubled and now dominates over 51% of total income, signaling a historic shift. With only $1 billion of its projected $4 billion in 2026 AI revenue currently live, IREN is aggressively reallocating power and infrastructure — betting big on the future while weathering the storm today.

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