IREN vs CORZ: AI Stock Comparison

IREN Limited vs Core Scientific, Inc.: AI exposure, key metrics, next earnings dates, upcoming catalysts and risks — every number linked to its source.

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$IREN scores higher on AI exposure (4/5 vs 3/5) under our published rubric. The score measures how directly each business is tied to AI, not which stock to buy.
⏱ Next catalyst: Both have a catalyst on Nov 5, 2026.
$IREN 🏆
IREN Limited
Bitcoin miner turned AI cloud provider.
$CORZ
Core Scientific, Inc.
Bitcoin miner converting sites to AI/HPC colocation.
AI exposure score⚡⚡⚡⚡⚡ 4/5⚡⚡⚡⚡⚡ 3/5
Shares outstanding357.4M
as of 2026-04-30 · 10-Q cover page · SEC filing
321.3M
as of 2026-07-23 · 10-Q cover page · SEC filing
CategoryAI cloud & neocloudsMiners pivoting to AI
Key metrics
Revenue (latest fiscal year) $707.0M
10-K period ended 2026-06-30; +41% y/y · SEC filing
Operating income -$1.05B
Same fiscal year; -148% operating margin · SEC filing
Net income -$702.6M
Same fiscal year · SEC filing
Revenue (latest quarter) $164.2M
10-Q period ended 2026-06-30; +109% y/y · SEC filing
Gross margin 42.7%
Gross profit / revenue, same quarter · SEC filing
Operating income -$78.5M
Same quarter; -48% operating margin · SEC filing
Next earnings
Nov 5, 2026 confirmed
IREN Limited quarterly earnings · source
Nov 5, 2026 confirmed
Core Scientific, Inc. quarterly earnings · source
Next catalyst
Nov 5, 2026 confirmed
IREN Limited quarterly earnings · source
Nov 5, 2026 confirmed
Core Scientific, Inc. quarterly earnings · source
Upcoming catalysts
Nov 5, 2026 confirmed
IREN Limited quarterly earnings · source
Nov 5, 2026 confirmed
Core Scientific, Inc. quarterly earnings · source
Most recent reportedNot yet announced / not on our calendarNot yet announced / not on our calendar
Key risks
  • “Our AI Cloud Services business has significant customer concentration, we are exposed to counterparty credit risk, and we may be unable to diversify our customer base.” — 10-K risk factor (filed 2026-08-27) · source
  • “We may be unable to construct the data centers that support our AI Cloud Services, or to commission and deliver contracted AI Cloud Services capacity, on schedule, or at all.” — 10-K risk factor (filed 2026-08-27) · source
  • “We may incur additional indebtedness to execute our long-term growth strategy, which may reduce our profitability.” — 10-K risk factor (filed 2026-03-02) · source
  • “Losses relating to our business may be uninsured, or insurance may be limited.” — 10-K risk factor (filed 2026-03-02) · source
AI angle

IREN converts its power-rich data-center sites to AI cloud services. Its 10-K flags customer concentration and on-time delivery of contracted capacity as key risks.

Core Scientific leases power and data-center space for AI/HPC customers while still mining bitcoin. The AI story is its colocation conversion pace.

Full analysis: $IREN →Full analysis: $CORZ →

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