According to Wu, IREN (NASDAQ: IREN), a Bitcoin mining company that has transformed into an AI cloud computing service provider, announced its first quarter results for fiscal year 2027, ending September 30, 2026. Total revenue increased 66% sequentially to $228 million, with AI cloud revenue increasing 182% sequentially to $200 million, achieving a gross margin of 86%. Bitcoin mining revenue, however, decreased to $28 million from $67 million in the previous quarter. The company reported a net loss of $263 million for the quarter, compared to $684 million in the previous quarter; adjusted EBITDA was $66 million. The company's contract revenue pipeline increased 22% quarter-over-quarter to $20.3 billion, with over $4 billion in annualized recurring revenue (ARR) already secured through contracts and funding. However, due to customer design adjustments and supplier delivery times, the expected achievement date has been delayed from the end of 2026 to January 2027, and may be further delayed to February. Additionally, the company signed a five-year AI cloud service contract after the quarter, priced at approximately $22 million per megawatt, with the customer prepaying 90% of the GPU capital expenditure. [https://wublock123.com)/news/iren-qtr-ai-cloud-revenue-up-182pc-to-200m-bitcoin-mining-28m-71434]