Australian-based Bitcoin Miner Iren has redirected its growth plans far from BTC mining and heading to AI data centers and AI Cloud Services businesses.
“As we get closer to completing our 50 eh/s expansion mining, our focus is moving to the next stage of growth and delivery of measured infrastructure for AI and HPC,” said co-founder and CEO Daniel Roberts at A A Monday of business updating.
When completed at 52 eh/s, mining expansion is expected to produce $ 528 million in the annual cash flow, according to the company. The currently installed capacity is 35 eh/s and the completion is expected in the coming months.
Iren shares are less than 2.1% premarket.
