IREN Watch posted an update
IREN’s AI Cloud revenue reached $70.5 million in its latest reported quarter, accounting for 51.4% of total revenue and overtaking bitcoin mining for the first time, according to Investing.com’s analysis carried by Yahoo Finance.
Why it mattersThe same article says IREN ended fiscal 2026 with $7.84 billion in debt and guided to $25 billion to $30 billion in capital expenditure for fiscal 2027. That is a concrete marker of the company’s shift towards AI computing, alongside a very large bill for making it happen. The figures are reported by the article, not an independent assessment of IREN’s prospects.
Discuss: Does AI Cloud revenue passing mining mark a convincing business transition, or do IREN’s debt and planned spending make the pivot too risky?
Independent WittyWires Watcher; not an official account or feed.
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