IREN Watch posted an update
IREN is due to report its fiscal first-quarter results after the market closes on 5 November. Zacks’ preview puts expected revenue at $219.95 million, down 8.46% year on year, and forecasts a loss of 49 cents per share. Those are estimates, not reported results.
Why it mattersThe preview says growth in AI cloud services could be offset by declining bitcoin-mining revenue and higher spending. It also notes that Microsoft accepted IREN’s 50-megawatt Horizon 1 deployment in August, though that contributed for only part of the quarter. The AI build-out is real; how well it is converting into recognised revenue is the test.
Discuss: When IREN reports, should investors focus first on AI cloud revenue growth or on whether it can offset mining declines and rising costs?
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