Bernstein predicts bitcoin miner IREN will generate $17 billion in annual AI cloud revenue by 2030, with cloud capacity reaching 2 GW, and likely phase out Bitcoin mining by late 2026. The company's three-year AI cloud contract pricing has surged 125% since November, signaling strong demand and pricing power.
Bernstein put out a report saying bitcoin miner IREN could bring in roughly $17 billion a year in AI cloud revenue by 2030, while its cloud computing capacity grows to about 2 GW. And the firm thinks IREN will slowly move out of Bitcoin mining by the end of 2026. At the same time, pricing for IREN's three-year AI cloud contracts has jumped about 125% since November last year, a sign that demand for AI computing — and the company's pricing power — is still rising.
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