BlockBeats News, August 28th, Crypto mining company IREN, which is undergoing a business transformation towards neocloud, released its 2026 fiscal year data after hours today. The Q4 revenue was $137.2 million, lower than Wall Street's expected $157.14 million. Additionally, the company's adjusted EBITDA was $19.2 million, about 53% lower than expected. AI cloud service revenue increased from $33.6 million to $70.5 million QoQ, while Bitcoin mining revenue decreased from $11.2 billion to $66.7 million.

Following this news, IREN's stock price dropped over 8% after hours.