IREN Mining Revenue Falls 58% as AI Sales Reach $200 Million
Open the sourceReported by The Defiant, thedefiant.io, 6 November 2026, by The Defiant Team
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IREN’s mining revenue fell 58% as AI sales reached $200 million, underscoring the company’s shift from bitcoin mining toward AI infrastructure. The results highlight how miners are reprioritizing capital and operations around AI demand as bitcoin economics remain under pressure. Investors will watch the pace of the mining wind-down, AI contract ramp-up, and whether the delayed $4 billion run-rate goal stays on track.
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