• IREN and CleanSpark shares plummeted over 20% in mixed buying and selling classes as Bitcoin fell beneath $64,000 and each corporations missed quarterly income estimates.
  • IREN reported a $155.4 million internet loss pushed by $219 million in unrealised hedging losses and impairment prices from transitioning its infrastructure from Bitcoin mining to AI Cloud computing.
  • CleanSpark posted a $378.7 million internet loss regardless of an 11.6% income enhance, highlighting the monetary pressure of diversifying into AI infrastructure and digital asset administration.

Two former Bitcoin mining corporations (now turned AI cloud computing platforms), IREN and CleanSpark, are having a tough time with Bitcoin’s current drop beneath US$64K (AU$92K).

Shares of IREN fell additional in after-hours buying and selling following Bitcoin’s sharp selloff and recent quarterly outcomes that highlighted widening losses tied to hedges, impairments, and transition prices.

IREN closed down 11.5% after which slid one other 13% after the bell. CleanSpark fell almost 20% through the session and was down about 10% extra after hours.

Learn extra: Meta Missed Repeated Warnings as Australian Influencer Promoted Illegal Crypto Gambling

IREN Misses Income Estimates, Cites Shift Towards AI Cloud

IREN (NASDAQ: IREN) reported fiscal second-quarter income of US$184.7 million (AU$282.6 million), beneath the US$224 million (AU$342.7 million) estimate cited from FactSet. It posted a internet lack of US$155.4 million (AU$237.8 million), versus a revenue of US$384.6 million (AU$588.4 million) within the prior quarter.

The corporate mentioned outcomes mirrored its shift from Bitcoin mining towards AI Cloud, with extra capability being allotted to AI workloads as deployments ramp up. 

It additionally reported greater than US$219 million (AU$335.1 million) in unrealised losses tied to pay as you go forwards and capped calls linked to convertible notes, plus a one-time debt conversion inducement expense. IREN recorded US$31.8 million (AU$48.7 million) in mining {hardware} impairments tied to its ongoing ASIC-to-GPU transition in British Columbia.

Equally, CleanSpark (NASDAQ: CLSK) reported quarterly income of US$181.2 million (AU$277.2 million), up 11.6% 12 months over 12 months however about US$13 million (AU$19.9 million) beneath consensus. It posted a internet lack of US$378.7 million (AU$579.4 million), in contrast with internet revenue of US$246.8 million (AU$377.6 million) a 12 months earlier.

The corporate reported working capital of US$1.3 billion (AU$2.0 billion) as of Dec. 31, 2025, and mentioned it’s constructing a number of earnings streams spanning Bitcoin mining, AI infrastructure, and digital asset administration.

Associated: Michael Burry Warns Bitcoin Breakdown Could Trigger “Sickening” Cascade

The submit Bitcoin Rout Triggers After-Hours Bloodbath for Miners as IREN Misses Big appeared first on Crypto News Australia.