Bitcoin Rally Lifts Crypto Stocks; IREN Misses, Amazon Eyes $200B AI Capex Clickable image
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Bitcoin Rally Lifts Crypto Stocks; IREN Misses, Amazon Eyes $200B AI Capex



Bitcoin’s bounce lifted crypto stocks in pre-market trading while weaker-than-expected earnings dented names like IREN and Amazon.

Quick take
– Bitcoin rallied from roughly $60,000 to about $66,000 (around a 10% move), sparking a broad uptick in crypto-exposed equities in early trading.
– MicroStrategy (MSTR), Galaxy (GLXY) and MARA Holdings (MARA) each climbed roughly 7% pre-market; Coinbase (COIN) rose about 6%.

IREN: missing estimates but mapping a path to AI
– IREN reported disappointing Q2 results, missing consensus on both revenue and EPS as it accelerates a strategic shift from bitcoin mining toward an AI cloud business.
– Q2 revenue fell to $184.7 million (down from $240.3 million in Q1) and the company posted a net loss of $155.4 million, both below expectations.
– On the financing front, IREN secured $3.6 billion of GPU financing tied to a Microsoft contract, and has a $1.9 billion customer prepayment — together expected to cover roughly 95% of GPU-related capex, easing a major funding hurdle for its AI push.

Amazon: revenue beat but EPS miss; eyes massive AI capex
– Amazon also reported mixed results: revenue topped estimates while EPS missed, per investing.com.
– The story for investors quickly turned to management’s plan to deploy about $200 billion in capex in 2026, largely focused on AI infrastructure — a disclosure that pressured the stock, which traded down about 10%.

Why it matters for crypto readers
– The rebound in bitcoin translated directly into gains for listed bitcoin holders and crypto-service firms, underscoring how spot price moves remain a primary driver for crypto equities.
– Meanwhile, companies like IREN illustrate a broader industry shift: crypto miners and related businesses are increasingly pivoting toward AI infrastructure, with GPU financing and large capex plans central to those strategies.

Bottom line: A renewed bitcoin rally buoyed crypto names in pre-market action, even as earnings season highlighted funding and execution challenges for firms transitioning into AI.

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