MIN MIN BITCOIN MINERS ARE MOVING TO AI - IREN MINING REVENUE DROPS 58% The transformation of the bitcoin mining industry is accelerating. IREN reported that Bitcoin mining revenue fell 58% in the quarter to #036;28 million. At the same time, AI cloud revenue jumped 182% to #036;200 million. The company now plans to substantially complete its transition from Bitcoin mining by December 31st. I'm not alone. TeraWulf reported a 69% drop in Bitcoin mining revenue, while revenue from high performance computing sales increased 774%. The reason is economic. Bitcoin tanks already own something AI companies desperately need: huge data centers, power infrastructure, cooling systems and access to electricity. When AI computing produces a better return than Bitcoin mining, these assets can be diverted. Important: Miners leaving do not mean that Bitcoin stops working. Bitcoin's difficulty to automatically adjust when computing power enters or leaves the network. The change changes the economics of the industry. For years miners have built data centers specifically to secure Bitcoin. Some of those facilities are becoming artificial intelligence infrastructures. The machines can change. Electricity remains expensive. @BitcoinNews.

MIN MIN BITCOIN MINERS ARE MOVING TO AI - IREN MINING REVENUE DROPS 58% The transformation of the bitcoin mining industry is accelerating. IREN reported that Bitcoin mining revenue fell 58% in the quarter to #036;28 million. At the same time, AI cloud revenue jumped 182% to #036;200 million. The company now plans to substantially complete its transition from Bitcoin mining by December 31st. I'm not alone. TeraWulf reported a 69% drop in Bitcoin mining revenue, while revenue from high performance computing sales increased 774%. The reason is economic. Bitcoin tanks already own something AI companies desperately need: huge data centers, power infrastructure, cooling systems and access to electricity. When AI computing produces a better return than Bitcoin mining, these assets can be diverted. Important: Miners leaving do not mean that Bitcoin stops working. Bitcoin's difficulty to automatically adjust when computing power enters or leaves the network. The change changes the economics of the industry. For years miners have built data centers specifically to secure Bitcoin. Some of those facilities are becoming artificial intelligence infrastructures. The machines can change. Electricity remains expensive. @BitcoinNews.