IREN Limited reported financial results for the fiscal quarter ended September 30, 2026. Total quarterly revenue increased 66% sequentially to $228 million, driven by a 182% sequential rise in AI Cloud revenue to $200 million. Bitcoin mining revenue declined to $28 million from $67 million. The company posted a net loss of $263 million and an adjusted EBITDA of $66 million. Revenue backlog grew 22% sequentially to $20.3 billion, with more than $4 billion in annualized run-rate revenue fully contracted and funded. IREN operates as a vertically integrated AI Cloud platform delivering data centers, compute, and software for artificial intelligence training and inference.
