Bitcoin miner Iren, which has moved to the AI compute business, is falling on earnings but it could be a buying opportunity, according to one Wall Street firm.

IREN shares fell more than 7% in extended trading after the company swung to a quarterly loss, driven by costs tied to retiring bitcoin mining hardware as it shifts to AI…

Weakening profitability overshadowed a major milestone in IREN’s transformation into an AI cloud provider.