Australian Bitcoin Miner IREN Shifts Focus to AI and Cloud Services

According to Foresight News, Australian-listed Bitcoin mining company IREN has announced a significant strategic shift. The company plans to halt the expansion of its mining facilities after completing the current 52 EH/s capacity construction. Instead, IREN will pivot towards artificial intelligence data centers and cloud computing services. CEO Daniel Roberts revealed that the existing 35 EH/s mining facilities are expected to reach full production within a few months. Once operational, the annual cash flow is projected to reach $528 million. This move marks a major transition for IREN as it adapts to evolving market demands and technological advancements.