Bernstein: IREN AI's cloud business may reach 17 billion USD by 2030, expected to stop BTC mining by the end of 2026

According to The Block, Bernstein expects that the Bitcoin mining company IREN will achieve an annual revenue of $17 billion from its AI cloud business by 2030, at which point cloud capacity will expand to approximately 2 gigawatts.

Bernstein anticipates that IREN will cease its Bitcoin mining operations by the end of 2026 and notes that the pricing for three-year AI cloud contracts has increased by about 125% since last November.