US Stock Movements | Soaring AI Cloud Revenue Fails to Offset Transformation Pains, IREN (IREN.US) Drops About 8%

According to Zhihu Finance APP, on Friday, IREN (IREN.US) opened significantly lower, with a drop of about 8% as of press time. In terms of news, IREN's fourth-quarter loss unexpectedly widened, and revenue also fell short of market expectations. The financial report shows that IREN's fourth-quarter revenue fell quarter-on-quarter to $137.2 million, below the market expectation of $153.2 million. By business segment, AI cloud service revenue increased from $33.6 million in the previous quarter to $70.5 million; Bitcoin mining revenue dropped from $111.2 million in the previous quarter to $66.7 million, compared to the market expectation of $65.6 million. The fourth-quarter net loss widened from $247.8 million in the previous quarter to $684 million, reflecting the impact of Bitcoin mining hardware being phased out as mining facilities are restructured to support AI cloud business growth.