2026-11-07 15:37:59
IREN Bitcoin Mining Collapses in Q3, Output Falls 80% to 402 BTC as Shift to AI Cloud Accelerates
According to Bitcoin News, IREN mined just 402 BTC in the third quarter, down from 2,039 in the prior year, with hashrate declining from 45.3 EH/s to 8.8 EH/s. Mining revenue fell 88 percent to $28 million, according to SEC filings, while AI cloud computing revenue reached approximately $200 million