New York, Feb 8, 2026, 06:24 EST — Market closed
- IREN clawed back roughly 5% on Friday, a partial rebound following its post-earnings drop the previous day.
- Bitcoin’s sudden bounce sent miner stocks higher heading into the weekend
- U.S. jobs numbers land Feb. 11, with CPI due on Feb. 13—both dates traders are watching closely.
IREN Limited shares finished the week stronger, recovering from a turbulent back-and-forth stretch that had traders squarely focused on bitcoin’s direction.
Shares gained roughly 5% on Friday as bitcoin climbed back over $70,000, taking some of the heat off crypto-related stocks that had struggled earlier in the week. 1
Why now: IREN is pitching its AI expansion as its traditional bitcoin-mining profits swing wildly with shifting token prices and mining conditions.
The company’s latest quarterly update brought the same blend, with new Microsoft AI-related funding in the spotlight, but profit numbers took a wild turn. 2
Shares of IREN swung between $33.64 and $44.18 on Friday, with volume running high as investors hashed out the short-term outlook.
The company’s latest filing shows total revenue at $184.7 million for the quarter ended Dec. 31. Of that, $167.4 million came from bitcoin mining, while AI cloud services contributed $17.3 million. Net loss landed at $155.4 million. 3
Investors aren’t letting go of the GPU plan—always a focal point. (GPUs, shorthand for graphics processing units, power AI model training and deployment.) Management claimed it locked in financing linked to the Microsoft deal, but the latest filing flagged that the setup still hinges on formal paperwork and a list of remaining conditions. 3
Daniel Roberts, IREN’s co-founder and co-CEO, called demand “the strongest … to date” and highlighted the company’s power pipeline as IREN aims for an annual recurring revenue run-rate it’s targeting for the end of 2026. 2
Bitcoin’s bounce has quietly carried much of the sector’s daily momentum. Marathon Digital, Riot Platforms and CleanSpark all posted gains in the previous session.
Plenty could still tip the scales the other way. Say bitcoin stumbles again, or financing for the GPU rollout gets snagged—delays, tougher conditions. That would shove cash burn and volatile non-cash items back into focus, not to mention questions about the pace of AI revenue growth.
U.S. markets kick back into gear Monday, and it’s a packed week on the macro front. The U.S. jobs numbers drop Feb. 11, with the CPI following on Feb. 13—both reports have the potential to jolt rate bets and shake up risk appetite, especially for high-volatility stocks like IREN. 4
