Bitcoin mining company IREN turns to AI business and suspends mining expansion plans

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MarsBit
03-31
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Mars Finance News: Listed Bitcoin mining company IREN announced a significant strategic adjustment, stating that after completing the current 52EH/s computing power construction, the company will pause mine expansion and fully pivot towards artificial intelligence data centers and cloud computing services. According to CEO Daniel Roberts, the existing 35EH/s mining machine facilities are expected to reach full production within several months, at which point the annual cash flow will reach $528 million. This decision reflects the industry trend of Bitcoin mining companies seeking diversification after halving, especially with North American mining firms leveraging their energy advantages to accelerate transformation into AI computing service providers. Affected by this news, IREN's stock price dropped 2.1% pre-market, with market attention focused on the progress of its supercomputing solution collaboration with Hewlett Packard Enterprise. (CoinDesk)

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