Bitcoin mining company IREN turns to AI business, suspends mining expansion plan

Odaily 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 temporarily suspend mine expansion and fully shift to the fields of artificial intelligence data centers and cloud computing services. According to CEO Daniel Roberts, the existing 35EH/s mining facility is expected to reach production within a few months, with an annual cash flow of $528 million. This decision reflects the industry trend of seeking diversified development in the mining industry after the halving of Bitcoin, especially as North American mining companies are accelerating their transformation into AI computing service providers with their energy advantages. Affected by this news, IREN's stock price fell 2.1% before trading, and the market is paying attention to the progress of its supercomputer solution cooperation with HP Enterprise. （CoinDesk）