Bitcoin miners IREN and Core Scientific book AI revenue, but profits still lag
- —IREN and Core Scientific sharply grew revenue from AI compute
- —Impairments and debt load are hurting both companies' balance sheets
- —Some AI capacity contracts remain unbilled
- —Profitability of the AI pivot is not yet confirmed
Why it matters: Shows whether miners' pivot to AI compute can offset declining bitcoin mining revenue.
Source: CriptoNoticias