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IREN revenue falls 22% to $145 million as bitcoin miner leans harder into AI
May 7, 2026
< 1 min read
by Jai Hamid
for CryptoPolitan
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AI Overview
IREN (NASDAQ: IREN) reported revenue of $144.8 million for the quarter ended March 31, 2026, down $39.9 million from $184.7 million in the prior quarter. Decline tied to weaker Bitcoin economics and expenses from its ongoing AI Cloud capacity buildout, highlighting crypto-market sensitivity and near-term revenue headwinds for the protocol/operator.
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IREN Limited (NASDAQ: IREN) has announced revenue fell to $144.8 million in the quarter ended March 31, 2026, down from $184.7 million in the prior quarter, as weaker Bitcoin economics collided with its ongoing buildout of AI Cloud capacity. The drop was $39.9 million, tied to a lower average Bitcoin price and the removal of...
