📰$IREN Quarterly results are out, with a full pivot to the AI cloud business.
Total revenue for the quarter ended September 30 was $228 million.
AI cloud revenue surged 182% quarter over quarter to $200 million.
Bitcoin mining revenue shrank to $28 million.
The company has completely shifted its strategic focus to AI computing infrastructure.
The company plans to gradually wind down and exit its mining business by the end of this year.
Traditional Bitcoin mining companies are accelerating their transition to AI computing service providers.
Total revenue for the quarter ended September 30 was $228 million.
AI cloud revenue surged 182% quarter over quarter to $200 million.
Bitcoin mining revenue shrank to $28 million.
The company has completely shifted its strategic focus to AI computing infrastructure.
The company plans to gradually wind down and exit its mining business by the end of this year.
Traditional Bitcoin mining companies are accelerating their transition to AI computing service providers.
