Terawulf, IREN Shift Toward AI as Bitcoin Mining Revenue Comes Under Pressure
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Terawulf and IREN are leaning further into AI infrastructure as rising costs and weaker bitcoin mining revenue weigh on their results.
Terawulf reported $76.2 million in revenue for the third quarter of 2026, with growth largely supported by its high-performance computing business.
Despite stronger revenue, the U.S. digital infrastructure company recorded an operating loss of $88.2 million as costs increased during the quarter.
IREN, another operator expanding into AI and high-performance computing infrastructure, reported an 88% year-over-year decline in bitcoin mining revenue.
The results highlight how major mining operators are increasingly looking to AI-related computing capacity to diversify as economics in the bitcoin mining sector remain under pressure.
Source: Bitcoin.com News
