IREN is trading 6.4% down at $37.92 after its August 27 earnings report.
- Fourth-quarter revenue was $137.2 million, below estimates, while the $684 million loss included $450.4 million in non-cash impairments tied to retiring Bitcoin-mining hardware during its AI infrastructure transition.
- Management raised its 2026 ARR target above $4 billion, but the miss and heavy charges outweighed that outlook.
- Bitcoin fell 0.80% since the prior close, adding sector pressure, but far less than IREN’s decline.