‍Bitcoin Miners IREN and CleanSpark Shares Tumble After Revenue Miss IREN and CleanSpark reported quarterly revenues below Wall Street expectations, contributing to a significant drop in their share prices amidst a broader market downturn where Bitcoin declined over 11%. IREN announced $184.7 million in revenue and a $155.4 million net loss for its fiscal second quarter. The company is shifting its strategy towards AI cloud infrastructure. CleanSpark reported $181.2 million in revenue and a $378.7 million net loss, largely due to asset revaluations and market volatility. Both companies face challenges balancing infrastructure expansion with fluctuating digital asset valuations.

Cryptovka

Bitcoin Miners IREN and CleanSpark Shares Tumble After Revenue Miss

The publicly traded cryptocurrency mining sector faced significant headwinds on Thursday as IREN and CleanSpark reported quarterly revenues that fe...