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CryptoCurrency

Wall Street Bitcoin Miner's AI Pivot Sparks Investor Lawsuit

Iris Energy faces a class action lawsuit for allegedly misrepresenting its data center capabilities for high-performance computing.
The lawsuit claims the company overstated its prospects and facilities' suitability for AI applications.

Thursday, 10/10/2024 | 09:07 GMT by Damian Chmiel

CryptoCurrency

Wall Street Bitcoin Miner Loses $29 Million, Six Times Less Than Last Year

IREN reported a significant growth in FY24, with record Bitcoin mining revenue and improved profitability.
The company is on track to expand its operations in both Bitcoin mining and AI cloud services.

Saturday, 31/08/2024 | 14:22 GMT by Damian Chmiel

CryptoCurrency

Iris Energy Switches Off Its Mining Hardware, Feels the Crypto Winter

The unplugged rigs were producing insufficient cash flow.
Operations generated a $2 million monthly profit, only 29% of the debt obligation.

Wednesday, 23/11/2022 | 11:32 GMT by Damian Chmiel

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