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

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ODAILY
03-31
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Planet Daily News: Australian listed Bitcoin mining company IREN announced a major strategic adjustment. After completing the current 52EH/s computing power construction, the company will suspend 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 months, with annual cash flow projected to reach $528 million. This decision reflects the industry trend of mining diversification after Bitcoin halving, especially with North American mining companies leveraging 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 solutions in collaboration with HP Enterprise. (CoinDesk)

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