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IREN Reports Revenue Miss and Net Loss as AI Cloud ARR Rises

IREN (Iris Energy) logoIREN (Iris Energy)
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Revenue of $137.2 million missed the $142.32 million consensus as IREN decommissioned mining hardware ahead of GPU installations. The company posted a $684 million net loss driven largely by non-cash impairments. IREN delivered Horizon 1 to Microsoft, and contracted ARR rose to about $1 billion after acceptance, supporting a $4 billion contracted ARR figure.

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