IREN reported Q2 FY26 revenue of $184.7 million and a net loss of $155.4 million, reflecting lower Bitcoin mining revenue and significant non-cash items, partially offset by growing AI Cloud Services revenue.

Iris Energy delivered a standout quarter, achieving record revenue of $240.3M and net income of $384.6M, boosted by a $9.7B AI Cloud deal with Microsoft and significant expansion plans.

In Q4 FY25, Iris Energy generated $187.3M in revenue and delivered $176.9M in net income. Adjusted EBITDA reached $121.9M with a 65% margin, as both the Bitcoin mining and AI segments expanded sharply.

Iris Energy posted $148.1 million in revenue in Q3 FY25, with substantial contributions from Bitcoin mining and a 33% increase in AI cloud services. The company reported $24.2 million in net income and continued scaling its AI infrastructure while pausing mining expansion at 50 EH/s.