IREN and AMZ down on earnings miss, as BTC equities bounce back
IREN and Amazon shares fell following disappointing earnings reports, while bitcoin-related stocks rallied on Bitcoin's price increase.Summary
IREN's Q2 results missed consensus on both revenue and EPS as the company shifts focus to AI Cloud, reporting revenue of $184.7 million and a net loss of $155.4 million. Despite this, IREN secured significant GPU financing for a Microsoft contract. Amazon (AMZ) also missed EPS expectations while beating on revenue, with investor attention focused on its planned $200 billion capital expenditure for 2026, primarily for AI initiatives, causing its shares to drop 10%.
Conversely, the broader crypto market saw a positive shift as Bitcoin rebounded from $60,000 to $66,000. This drove a rally in crypto-exposed equities in pre-market trading, with MicroStrategy (MSTR), Galaxy (GLXY), and MARA Holdings (MARA) all rising by 6% to 7%, and Coinbase (COIN) increasing by 6%.
(Source：CoinDesk)