Presumably you left the &
binary out only when you posted here, or you'd be getting a /bread error instead.

Binary variables are destroyed as soon as the script which created them has finished. If you were trying that on the commandline, with two seperate commands, there would no longer be a &binary variable to .bwrite...
//bread mirc.exe 0 100 &binary | bwrite mirc.exe.bac -1 -1 &binary | echo -a $file(mirc.exe.bac)