IREN shares rose 5.73% to $42.09 on August 26 as investors positioned ahead of the Bitcoin mining and AI cloud infrastructure company’s fiscal 2026 earnings report, scheduled for August 27 after market close. The move valued the company at about $14.97 billion. In the March-end quarter, revenue fell to $144.8 million, with AI cloud revenue nearly doubling to $33.6 million while Bitcoin mining revenue declined to $111.2 million from $167.4 million. IREN raised its 2026 annualized AI cloud revenue target to more than $4 billion after signing $2.8 billion in new multi-year contracts, about 85% of which is already contracted. The results may show whether AI cloud growth is beginning to offset weaker mining revenue and how quickly contracted infrastructure can generate sales.