IREN Reports $228M in Revenue as AI Cloud Sales Surge 182%
Photo: TheCoinrise
The company's pivot toward AI computing accelerates as bitcoin mining revenue falls and a full exit nears IREN has reported $228 million in revenue, with its AI Cloud division emerging as the primary growth driver. Sales from that segment rose 182%, according to figures the company disclosed. The results mark a significant shift in IREN's business mix, away from its original focus on bitcoin mining. At the same time, revenue from bitcoin mining operations dropped 58%. The company has said it plans a full exit from mining activities by the end of the year.
Source: TheCoinrise
