IREN's bitcoin mining revenue has plummeted by 58% due to a decline in mining activities. This substantial drop comes as the firm plans to exit the market entirely by the end of the year. The shift in focus is part of IREN's broader strategy to concentrate on its AI infrastructure business. The company has seen significant growth in this area, with its AI cloud revenue increasing by a whopping 182% in the past quarter to reach $200 million.

Source
"IREN's Bitcoin Mining Revenue Plummets 58% Amid Exit Plans" — The Block

This article is Bitcoincryptos' summary and analysis of reporting originally published by The Block. Read the full original report at the link above.

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