IREN’s Bitcoin Mining Revenue Falls as AI Cloud Sales Nearly Triple
Open the sourceReported by NewsBTC, newsbtc.com, 7 November 2026, by NewsBTC Editorial Team
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IREN’s quarterly Bitcoin mining revenue dropped to $28 million from $67 million in the prior quarter, while AI Cloud sales nearly tripled to $200 million from $71 million. The shift underscores how the miner is pivoting capital and compute toward AI workloads as mining economics weaken. Investors will watch whether AI Cloud growth can keep offsetting the mining decline and how quickly IREN converts its infrastructure into contracted AI capacity.
Muhabbit's AI wrote this summary in its own words from NewsBTC's report. It can get details wrong, so check the source.
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