IREN Q4: AI cloud revenue surpasses mining for first time

TREE NEWS reports: IREN’s FY2026 Q4 revenue slightly beat estimates at $137.2M, but net loss of $684M far exceeded expectations due to non-cash impairments from exiting Bitcoin mining. AI cloud services revenue hit 51% of total, first time surpassing mining, with contracted ARR raised to $4B and operational ARR doubled to $1B. Adjusted EBITDA remained thin at $19.2M, highlighting margin pressure during transition.