Weak earnings drag IREN, Amazon; bitcoin stocks rebound in pre-market

Financial Performance - IREN reported Q2 revenue of $184.7 million, which was below expectations and a decline from $240.3 million in Q1 [1] - The company experienced a net loss of $155.4 million, also missing consensus estimates [1] Strategic Transition - IREN is accelerating its transition from bitcoin mining to AI Cloud services [1] - The company secured $3.6 billion in GPU financing for its Microsoft contract, along with a $1.9 billion customer prepayment, which is expected to cover approximately 95% of GPU-related capital expenditures [2] Market Reactions - Amazon reported mixed results, missing EPS expectations but beating revenue forecasts, leading to a 10% decline in its shares [2] - Bitcoin prices rebounded from around $60,000 to $66,000, resulting in a rally for crypto-exposed equities, with notable gains for companies like Strategy (MSTR), Galaxy (GLXY), and MARA Holdings (MARA) [3]