Bernstein sees IREN pivoting from Bitcoin mining to $3.7B AI cloud business

Bernstein sees IREN pivoting from Bitcoin mining to $3.7B AI cloud business

1.07%TRX$0.3252 0.43%LINK$9.22 2.47%ADA$0.2452 2.75%BCH$448.30 0.67%XRP$1.39 2.26%ETH$2,289 2.67%BTC$76,760 1.65%XMR$387.16 0.77%BNB$623.55 1.36%XLM$0.1646 3.45%SOL$84.54 2.38%HYPE$41.72 0.70%Written by Sam Bourgi⁠, Staff Editor. Reviewed by Robert Lakin⁠, Staff Editor. Written by Sam Bourgi⁠, Staff Editor. Reviewed by Robert Lakin⁠, Staff Editor. Bernstein sees IREN pivoting from Bitcoin mining to $3.7B AI cloud businessLatest NewsPublishedApr 27, 2026As Bitcoin miner IREN shifts toward AI cloud infrastructure, leveraging a Microsoft deal and GPU expansion, analysts expect mining revenue to decline over time. IREN could become the next major Bitcoin miner to transition into AI infrastructure following its multi-billion-dollar deal with Microsoft, underscoring a broader shift in mining economics, according to a new research report from Bernstein. The Bernstein analysts point to IREN’s ra

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