AI cloud revenue topped Bitcoin mining for the first time as IREN accelerated its data center conversion.

IREN stock gains momentum on Tuesday, driven by Bitcoin's rally past $80,000 and strong options pricing ahead of its fourth-quarter results.

IREN Limited posted Q4 FY26 revenue of $137.2M, missing estimates by roughly $3M, while recording a $702.6M net loss tied to its Bitcoin-to-AI