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IREN AI Cloud Revenue Jumps 182% as Bitcoin Mining Falls to $28M

IREN reported fiscal Q1 revenue of $228M, up 66% QoQ, driven by AI cloud revenue growth of 182% to $200M, while Bitcoin mining revenue fell to $28M. Net loss narrowed to $263M, and adjusted EBITDA was $66M. Contracted revenue backlog rose 22% to $20.3B. The company expects to exceed $4B in annual recurring revenue by January 2027, delayed from late 2026.

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tokenpost.com
Published Nov 7, 2026, 2:10 PM UTC
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Added to AlphAI Nov 7, 2026, 4:19 PM UTC. Informational, not investment advice.
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IREN AI Cloud Revenue Jumps 182% as Bitcoin Mining Falls to $28M — source image
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StoryMicrosoft cites IREN data‑center delays for $5 billion Q1 capex shortfall

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