**IREN Limited (NASDAQ: IREN) reported a 23.8% decline in its stock during February amid mixed earnings results. The company revealed fourth-quarter revenue of $184.7 million, a 59% year-over-year increase, and adjusted EBITDA of $75.3 million, up 20.7% from the previous year. However, both figures fell quarter-over-quarter, largely due to IREN’s strategic shift away from Bitcoin mining towards AI infrastructure.**
**Despite securing 1.6 GW of grid-connected land in Oklahoma, raising its total capacity to 4.5 GW, investor disappointment stemmed from a lack of new deal announcements, particularly following a prior partnership with Microsoft. CEO Daniel Roberts indicated ongoing negotiations for larger-scale deployments, but market sentiment remained cautious as the company leases only 10% to 20% of its current capacity.**
