Iris Energy and CleanSpark Report Declines in Q4 Profitability

Iris Energy reported fourth-quarter revenue of $184.7 million, falling short of the estimated $224 million, and recorded a net loss of $155.4 million, a significant drop from the previous quarter's profit. According to NS3.AI, CleanSpark also posted revenue of $181.2 million, slightly below expectations, with an 11.6% year-over-year increase. However, the company suffered a net loss of $378.7 million, contrasting with a profit recorded last year. Both mining companies experienced notable declines in profitability during the fourth quarter.