Iris Energy (IREN) has released an update.
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Iris Energy is ramping up its AI Cloud Services, aiming to generate $32 million in annualized hardware profit by the end of 2024, contributing significantly to its earnings. The company is expanding its GPU capacity and accelerating the timeline for its 1.4GW data center project in Texas to April 2026. These strategic moves highlight Iris Energy’s commitment to scaling its infrastructure and capitalizing on opportunities in the AI and Bitcoin mining sectors.
For further insights into IREN stock, check out TipRanks’ Stock Analysis page.
