Cointime update: Bitcoin miner-turned-AI cloud provider IREN (NASDAQ: IREN) reported fiscal Q1 2027 results for the quarter ended September 30, 2026, with total revenue up 66% quarter-over-quarter to $228 million. AI cloud revenue rose 182% QoQ to $200 million at an 86% gross margin, while Bitcoin mining revenue fell to $28 million from $67 million the prior quarter. Net loss narrowed to $263 million and adjusted EBITDA was $66 million.
IREN Q1 FY2027 AI Cloud Revenue Up 182% QoQ to $200M as Bitcoin Mining Falls to $28M
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