finance.yahoo.com

IREN Reports AI Cloud Growth With June-Quarter Revenue Miss and $684M Loss

IREN (Iris Energy) logoIREN (Iris Energy)
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Nebius Group logoNebius Group
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IREN reported June-quarter revenue of $137.2 million, missing consensus by 2.52%, and a $684 million GAAP net loss driven by a $450.4 million non-cash impairment on decommissioned mining hardware. AI Cloud revenue reached $70.5 million, more than doubling sequentially. Q2 revenue rose 454.04% year over year to $582.30 million, beating consensus by 1.33%.

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