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

Odaily News IREN, an Australian-listed Bitcoin mining company, announced a major strategic adjustment. The company will suspend the expansion of the mine after completing the construction of the current 52EH/s computing power, and will fully turn to the field of 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 a few months, and the annual cash flow will reach US$528 million. This decision reflects the industry trend of the mining industry seeking diversified development after the Bitcoin halving, especially North American mining companies are accelerating their transformation to AI computing service providers by relying on their energy advantages. Influenced by this news, IREN's stock price fell 2.1% before the market opened, and the market paid attention to the progress of its supercomputing solution in cooperation with HP Enterprise. (CoinDesk)