Quick Read
-
Iren (IREN) missed Q2 revenue estimates by 20% with $184.7M versus $229.65M consensus.
-
Iren’s Bitcoin mining revenue fell to $167.4M from $232.9M as resources shift to AI infrastructure.
-
Microsoft prepaid $1.9B under the $9.7B AI cloud contract targeting $3.4B annualized revenue by end of 2026.
-
A recent study identified one single habit that doubled Americans’ retirement savings and moved retirement from dream, to reality. Read more here.
After IREN (NASDAQ:IREN) plunged 13.9% on February 4, 2026, retail sentiment soured as Reddit’s sentiment score dropped to 39 this week from a quarterly average of 42, with discussions emerging on r/wallstreetbets and r/options analyzing and dissecting Q2 results. The catalyst? The conversation has shifted to Q2 FY26 earnings, which reported $184.7 million in revenue, missing the consensus of $229.65 million by nearly 20%. The miss highlighted challenges as IREN makes a bold move and pivots from Bitcoin mining to AI cloud infrastructure.
Unfortunately, the timing couldn’t be worse as Bitcoin has crashed from $96,954 in mid-January to $66,210 today, a brutal 32% decline hammering mining profitability. IREN’s $9.7 billion Microsoft contract for AI cloud services targets $3.4 billion in AI Cloud annualized run-rate revenue by the end of 2026. But investors aren’t convinced. On February 6, bearish commentary emerged on r/wallstreetbets as the stock hit $36.52 on volume of 75.2 million shares.
Reddit Turns Sour on the AI Pivot
Discussion intensified on r/wallstreetbets and r/options, with traders debating whether IREN’s transformation is visionary or doomed. Sentiment plummeted to 8 on the morning of February 6. One X user captured the mood: “IREN broke below $45 support, tariff fears hitting miners. Shorting to $40 target.” The skepticism is grounded:
-
Bitcoin mining revenue collapsed to $167.4 million in Q2, down from $232.9 million in Q1, as resources shift to GPUs
-
AI Cloud revenue remains nascent at $7.3 million in Q1, far short of the billions promised
-
The stock trades at 61x forward P/E, pricing in flawless execution of an unproven strategy
On the plus side for investors, sentiment had stabilized closer to neutral by February 12 as discussion continued on r/wallstreetbets, with 170 comments debating valuation. Bulls note the company secured $3.6 billion in GPU financing and received $1.9 billion in Microsoft prepayments, covering 95% of capex needs.
Wild Swings Continue
IREN’s beta of 4.28 makes it one of the market’s most volatile stocks. After the February 6 crash, shares bounced 13% on February 9 before giving back gains. The stock closed at around $42 on February 13, still 46% below the November high of $76.87. The question: can IREN deploy 140,000 GPUs and hit revenue targets before Bitcoin’s next move makes the pivot irrelevant? With 11 of 14 analysts rating it Buy and a consensus target of $79, Wall Street believes.
Data Shows One Habit Doubles American’s Savings And Boosts Retirement
Most Americans drastically underestimate how much they need to retire and overestimate how prepared they are. But data shows that people with one habit have more than double the savings of those who don’t.
And no, it’s got nothing to do with increasing your income, savings, clipping coupons, or even cutting back on your lifestyle. It’s much more straightforward (and powerful) than any of that. Frankly, it’s shocking more people don’t adopt the habit given how easy it is.