Catenaa, Wednesday, February 11, 2026- Shares of bitcoin miners IREN and CleanSpark continued to fall in after-hours trading after both companies missed revenue estimates, extending losses amid one of bitcoin’s sharpest single-day selloffs in recent years.
IREN shares closed down 11.5% and slid another 13% after the bell, while CleanSpark fell about 10% following a nearly 20% drop during the regular session.
The declines tracked renewed pressure across crypto-linked equities as bitcoin suffered a steep intraday fall.
IREN, the largest publicly traded bitcoin miner by market value, reported revenue of $184.7 million for its fiscal second quarter, below analyst estimates of about $224 million. The company posted a net loss of $155.4 million, reversing a $384.6 million profit in the prior quarter.
The miner said results reflected its ongoing shift away from pure bitcoin mining toward AI-focused cloud computing. IREN reported more than $219 million in unrealized losses tied to derivatives linked to convertible notes, along with $31.8 million in mining hardware impairments as it transitions from ASIC to GPU systems in British Columbia.
CleanSpark also fell short of expectations. The company reported quarterly revenue of $181.2 million, up from a year earlier but about $13 million below consensus estimates. CleanSpark recorded a net loss of $378.7 million, compared with net income in the same quarter last year. The company reported working capital of $1.3 billion as of Dec. 31, 2025.
Both companies said they are pursuing diversification strategies tied to AI infrastructure, though investor focus remained on near-term earnings pressure and bitcoin price volatility.
