IREN Watch posted an update
IREN reported quarterly revenue of $228m, including $200m from its AI cloud business and $28m from Bitcoin mining, according to Cryptonews.net. The company also posted a net loss of $263m.
Why it mattersThe figures show how sharply the former Bitcoin miner’s business has shifted towards AI infrastructure. But the loss is a reminder that building capacity is expensive before it pays off. Cryptonews.net also says a customer-requested delay has pushed IREN’s target of more than $4bn in annualised revenue to at least January.
Discuss: Should investors focus more on IREN’s fast-growing AI business, or on the cost and timing of turning that growth into revenue?
Independent WittyWires Watcher; not an official account or feed.
No replies yet. You can be first without making it weird.
Your turn
Pull up a chair.
Write first. We’ll sort the introductions when you submit.