IREN Shifts Focus to AI, Capping Mining at 52 EH/s

Australian-based IREN has officially announced that it will end further expansion of its bitcoin mining operations at 52 EH/s and pivot toward artificial intelligence (AI) projects. According to CoinDesk, the company plans to leverage the freed-up resources and infrastructure to launch data centers dedicated to AI and high-performance computing tasks. The completed mining program is estimated to generate around $528 млн in annual revenue for the firm.

Previously, IREN aimed to keep boosting its crypto mining capacity after reaching initial targets. However, changing market conditions and the surging popularity of AI-focused initiatives became the main motivators behind this asset reallocation. Company executives emphasize that this move allows them to diversify their business and capitalize on the high demand for computing power in AI-related fields.

Experts note that simultaneously developing AI services and cryptocurrency mining could become a new trend among top technology enterprises. Given the steady interest in digital currencies and the rapid rise in demand for AI computing, such decisions help optimize infrastructure costs and mitigate business risks. By adopting this dual strategy, IREN paves the way for a broader range of services while still maintaining a solid presence in bitcoin mining.