IREN's Ambitious AI Play: A High Stakes Gamble on Data Centers and GPUs IREN Limited, a company once focused on Bitcoin mining, is now making a bold bet on building out its AI Cloud infrastructure.
The tech world has been abuzz with talk of artificial intelligence revolutionizing industries, but few have noticed IREN's pivot into cloud computing for AI.
To meet growing demand, IREN aims to reach 480 megawatts of AI Cloud capacity by year end and generate $3. 7 billion in annual recurring revenue.