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Bitcoin Miners Bet on AI Computing Boom

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Bitcoin mining companies are expanding their reach into the global AI infrastructure market, as they leverage their expertise in data centers and energy capacity.

Iren, a company originally known for large-scale Bitcoin mining, reported an eightfold increase in its AI Cloud Services revenue from $16.4 million in fiscal 2025 to $128.8 million in fiscal 2026.

The shift highlights a broader trend where cryptocurrency mining and AI computing converge on the need for large data centers, reliable energy supplies, cooling systems, and intelligent allocation of computing resources.

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