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IREN’s bitcoin mining revenue drops 58% as firm plans full exit by year-end
Headline from The Block
Key points
- Bitcoin miner IREN saw its mining revenue plunge by 58% as the company prepares a complete exit from the crypto mining sector by the end of the year.
- Concurrently, the firm has pivoted toward artificial intelligence infrastructure, resulting in its AI cloud revenue surging 182% to reach $200 million over the past quarter.
Summarized automatically by Kryptokite from reporting by The Block. Read the original sources for full detail.
Coins mentioned
Sources
- The BlockIREN’s bitcoin mining revenue drops 58% as firm plans full exit by year-end · 4 hours agoRead on The Block
Story timeline
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