[IREN's Bitcoin Production Drops to 402 BTC in Q3, Transformation Expected to be Fully Completed by Year-End] According to Odaily Planet Daily, Bitcoin mining company IREN produced 402 Bitcoins in the third quarter, compared to 2,039 in the same period last year; its average operating hashrate dropped to 8.8 EH/s, compared to 45.3 EH/s in the same period last year. The company held no Bitcoins as of the end of September. Bitcoin mining revenue in the third quarter was $28 million, a year-on-year decrease of 88%. IREN expects to largely complete its transformation to an AI cloud business by December 31, 2026, and will retain a small amount of mining activity in 2027. The company's total assets are $20.6 billion, including $6 billion in data center assets; its customer agreements include Nvidia, Microsoft, and 13 other clients. IREN's stock price fell 17% on November 5, closing at $18.03; analysts' target price is $55. (Bitcoin.com News)