IREN bitcoin mining revenue falls 58% as firm plans full exit by year-end

IREN's bitcoin mining revenue fell 58% as the company pivots away from mining toward AI infrastructure, with a planned full exit from bitcoin mining by year-end. Its AI cloud revenue rose 182% in the past quarter to $200 million. Traders should watch for further hashrate reduction as another listed miner leaves the sector, while IREN's AI pivot signals where capital is flowing.