IREN’s Grand Shift: From Bitcoin to AI, Oh What a Twist!

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What to know:

  • IREN, in a most dramatic turn, shall soon pause its bitcoin mining expansion! 🎭
  • Instead, the company has decided to frolic in the fields of AI services! 🤖

Ah, the illustrious IREN, once a proud miner of Bitcoin, now casts its gaze upon the shimmering allure of AI data centers and cloud services! How the mighty have shifted their ambitions! 🌟

“As we near the grand finale of our 50 EH/s mining expansion, we find ourselves irresistibly drawn to the next act of growth, where we shall deliver scalable infrastructure for AI and HPC,” proclaimed the ever-optimistic co-founder and CEO, Daniel Roberts, in a Monday update that surely had the boardroom buzzing with excitement! 🥳

Upon reaching the majestic 52 EH/s, this mining expansion is expected to rain down a staggering $528 million in annual cash flow! Alas, the current capacity stands at a mere 35 EH/s, with completion anticipated in the coming months—if the fates allow! 💰

But lo and behold! IREN shares have taken a slight tumble, down by 2.1% in the premarket. Oh, the drama of the stock market! 📉

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2025-03-31 16:08