In the tight-binding approximation, an Iwatsuka magnetic field is modeled by a function on \(\mathbb {Z}^2\) with constant, but distinct values in the two parts of the lattice separated by a straight line of slope \(\alpha \in [-\infty ,\infty ]\) . In this paper, the K-theory of the magnetic \(C^*\) -algebras generated by an Iwatsuka magnetic field for any possible \(\alpha \) is computed. One interesting aspect concerns the analysis of the behavior of the system in the transition from rational to irrational \(\alpha \) . It turns out that when \(\alpha \) is irrational, the magnetic hull associated with the flux operator forms a Cantor set. On the other hand, for rational \(\alpha \) this set coincides with the two-point compactification of \(\mathbb {Z}\) . This characterization, along with the use of the Pimsner-Voiculescu exact sequence, is the main ingredient for the computation of the K-theory. Once the K-theory is known, with the use of the index theory one can deduce the bulk-interface correspondence for tight-binding Hamiltonians subjected to an Iwatsuka magnetic field. Notably, it occurs that the topological quantization of the interface currents remains independent of the slope \(\alpha \) (as physically expected).