IREN posts $228M revenue as AI Cloud sales jump 182%
Photo: Crypto Briefing
The former Bitcoin miner now earns most of its money renting out AI compute, while mining revenue slid to $28 million IREN, the Nasdaq-listed company once known mainly as a Bitcoin miner, reported $228 million in quarterly revenue. Most of that came from a business that has nothing to do with hashing blocks. Its AI Cloud segment brought in $200 million, up 182% from the prior quarter. Bitcoin mining, the company’s original identity, contributed $28 million. The miner has become a landlord for AI workloads, and the rent is very good.
Source: Crypto Briefing
