Bitcoin Miner IREN Reallocates Capital to AI Data Centers

IREN Ditches Bitcoin Mining Expansion in Favor of AI Data Centers

The company plans to reach its previously targeted Bitcoin mining capacity of 52 EH/s in the coming months.

Stephen Alpher March 31, 2025 13:06 UTC

Basic information:

• IREN to Stop Bitcoin Mining Expansion Soon
• Instead, the company will focus on growing its AI services business.

Australian Bitcoin mining company IREN is changing its growth plans, switching from BTC mining to data centers and cloud services for AI.

“With our 50 EH/s expansion approaching completion, we are shifting our focus to the next stage of growth and building scalable infrastructure for AI and high-performance computing,” co-founder and CEO Daniel Roberts said in a business update on Monday.

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According to the company, once it reaches 52 EH/s, the expansion is expected to generate $528 million in annual cash flow. The current installed capacity is 35 EH/s, and completion is expected in the coming months.

IREN shares fell 2.1% in premarket trading.

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