Bernstein Projects IREN AI Cloud Revenue to Reach $17 Billion by 2030

Bernstein analysts project that Bitcoin mining firm IREN could generate $17 billion in annual revenue from its AI cloud business by 2030, with cloud capacity expected to expand to approximately 2 gigawatts. The report anticipates that IREN will cease Bitcoin mining operations by the end of 2026. Additionally, Bernstein noted that pricing for three-year AI cloud contracts has increased by approximately 125% since last November.