IREN Maintains 82% Revenue Share from Bitcoin Despite Microsoft AI Cloud Expansion

Bitcoin mining firm IREN continues to derive 82% of its revenue from BTC mining operations even as it allocates infrastructure capacity for Microsoft's AI cloud services. The company has set a target of $4 billion in contracted AI run-rate, a fourfold increase from the $1 billion operating level recorded on August 26. Revenue recognition for these AI services remains contingent upon successful delivery and customer acceptance.