IREN Shifts Focus from Bitcoin Mining to AI Data Centers
Australia-based bitcoin miner IREN is shifting its focus from BTC mining to AI data centers and cloud services.
- The company is nearing completion of a 50 EH/s mining expansion, increasing total capacity to 52 EH/s.
- This expansion is projected to generate $528 million in annual cash flow.
- Current installed capacity stands at 35 EH/s, with completion expected in the coming months.
- IREN shares fell by 2.1% in premarket trading.