Iren has reported a steep decline in revenues over the past three months as the Sydney-headquartered, Nasdaq-listed digital infrastructure business shifts away from bitcoin mining and toward artificial intelligence.
The company, founded by brothers and former Macquarie bankers Dan and Will Roberts, blamed the shift away from bitcoin, and a slump in the cryptocurrency’s price over the three months to December 31, for a 23 per cent decline in revenues to $US184.7 million ($267 million) over that period.
