IREN Ltd posted a net loss of $684 million for its fiscal fourth quarter ending June 30, 2026. The culprit: nearly $450 million in non-cash impairment charges tied to decommissioning Bitcoin mining equipment.
Co-CEO Daniel Roberts took to social media to explain that the losses are overwhelmingly non-cash, tied not to operational bleeding but to the deliberate unwinding of IREN’s former identity as a crypto miner.
The pivot in numbers
IREN’s fiscal Q4 2026 revenue came in at $137 million, with AI cloud services contributing roughly $70.5 million of that total.
The forward-looking numbers are where things get wild. IREN has guided capital expenditures of $25 billion to $30 billion for fiscal year 2027.
