EconomyBitcoin miner IREN still gets 82% of revenue from BTC despite Microsoft AI cloud pivot
IREN generated $578.2 million of its $707 million in fiscal 2026 revenue from Bitcoin mining, or about 81.8%, while AI Cloud Services contributed $128.8 million. Retiring mining equipment for AI data-center workloads caused a $638.8 million non-cash impairment and contributed to a $702.6 million net loss. The company is targeting a broader AI transition by year-end, but its filing says the replacement business is not yet fully operational.
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CryptoSlate★★☆☆☆2026-08-29 22:10Original
Bitcoin miner IREN still gets 82% of revenue from BTC despite Microsoft AI cloud pivot
Economy