Bitcoin Mining Slump Hits IREN Limited Hard

IREN Limited is facing a decline in revenue and expects to incur a loss due to the slump in Bitcoin mining. Despite this, the company's AI cloud business is growing.

The financial services firm has seen its revenue decrease as the market for Bitcoin mining equipment and related services dwindles. This has led to an expected loss for IREN Limited.

However, the company's AI cloud segment is experiencing growth, which may help mitigate the losses in other areas of its business.