Bitcoin mining is failing so spectacularly that IREN is ripping out its hardware to chase the AI gold rush. Despite a $247 million net loss and missing revenue targets by $74 million, the stock surged 27% on an Nvidia deal. They are decommissioning their core business because mining margins have collapsed, signaling that the Bitcoin-first model is effectively dead. Is this a brilliant strategic pivot or just a desperate move to stay relevant? What do you think?
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Nvidia•Publicly Traded Bitcoin Miners•Bitcoin Mining•IREN Earnings Report•Crypto Stock•Nvidia GPU•Iren
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