- SemiAnalysis flagged multi-day power outages, network upgrades and storage failures at IREN's legacy Prince George and Mackenzie sites in British Columbia.
- SemiAnalysis said IREN's newer Childress and Sweetwater, Texas sites look much better and avoid N+0 configurations for power, cooling and internet service.
- IREN subsidiary Mirantis achieved NVIDIA-certified hypervisor validation for its k0rdent AI virtualization stack on NVIDIA GB200 systems.
- IREN shares fell 17% over five days after the SemiAnalysis report, and fiscal Q4 2026 revenue declined 27% to $137.23 million with an adjusted net loss of $0.41 per share.
- AI cloud revenue surpassed mining revenue for the first time in the June quarter, and IREN targets full migration to AI cloud by December 2026.
- Analysts keep a Moderate Buy consensus, while Jones Trading and Rothschild and Co. Redburn hold Hold ratings citing a lower-quality customer base.
Quotes
“#1 worst site in the industry”
“look much better”