ME News report, September 3 (UTC+8), Beating AI Brief: As its AI cloud business expands, Bitcoin mining company IREN is projected to generate approximately $17 billion in annual AI cloud revenue by 2030, with its cloud computing capacity increasing to around 2 GW. Bernstein expects IREN to phase out its Bitcoin mining operations by the end of 2026. Meanwhile, IREN’s three-year AI cloud contracts have risen approximately 125% since November last year, reflecting sustained growth in AI compute demand and pricing power. (Source: BlockBeats)
Bernstein: IREN's AI Cloud Revenue to Reach $17 Billion by 2030, Bitcoin Mining to Cease by 2026
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Summary
Bernstein, citing MetaEra, forecasts IREN’s AI cloud revenue to reach $17 billion by 2030, with capacity hitting 2 GW. The firm also expects IREN to exit Bitcoin mining by 2026. Cloud pricing has increased 125% since November 2023, reflecting strong demand for AI. This update delivers key AI and crypto news, as well as Bitcoin news, for 2024.
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