Applied Digital revenue rises as IREN’s quarterly revenue declines
Company filings cited by Yahoo Finance show contrasting revenue trends as IREN shifts from cryptocurrency mining towards AI cloud services.
Applied Digital reported revenue of US$258.7 million for the quarter ended 31 May 2026, while IREN reported revenue of US$137.2 million for the quarter ended 30 June 2026, according to company filings cited by Yahoo Finance.
The figures cover different reporting periods and are not necessarily like-for-like. Applied Digital operates digital-infrastructure campuses and provides dedicated computing services, while IREN runs data centres and mines digital assets.
IREN’s cryptocurrency-mining revenue fell to US$66.7 million from US$111.2 million a year earlier. Its AI-cloud sales increased to US$70.5 million from US$33.6 million, reflecting the company’s shift towards AI infrastructure.
Applied Digital reported an operating margin of negative 45% for its quarter. IREN reported an operating margin of negative 452% for the quarter ended 30 June. The figures require consideration alongside the companies’ underlying accounts.
Applied Digital has also signed an additional facility lease and secured supplementary credit financing for construction. For both businesses, revenue trends remain a key measure as they invest in data-centre and AI infrastructure.
