Yahoo Finance·2026-02-05 21:57Core Insights - The recent selloff in bitcoin has significantly impacted prominent bitcoin miners, with IREN and CleanSpark experiencing substantial declines in their stock prices [2] Company Performance - IREN reported a total revenue of $184.7 million, a decrease from the previous quarter's $384.6 million profit, resulting in a net loss of $155.4 million, which was below the estimated revenue of $224 million [3] - CleanSpark's quarterly revenues reached $181.2 million, reflecting an 11.6% increase year-over-year, but fell short of consensus estimates by approximately $13 million. The company reported a net loss of $378.7 million compared to a net income of $246.8 million in the same period last year [6] Strategic Transition - IREN is transitioning from Bitcoin mining to AI Cloud, with an increasing allocation of capacity to higher-value AI workloads, leading to accelerated AI Cloud revenues [4] - CleanSpark is diversifying its business model, focusing on building an infrastructure platform with multiple revenue streams, including Bitcoin mining for cash flow and AI infrastructure for long-term asset monetization [8] Financial Challenges - IREN faced unrealized losses exceeding $219 million related to prepaid forwards and capped calls, along with a one-time debt conversion expense and mining hardware impairments of $31.8 million due to the ASIC-to-GPU transition [4]