Bitcoin News: IREN Shifts Focus from Bitcoin Mining to AI Data Centers

In a strategic move that signals a shift in industry trends, Australia-based Bitcoin miner IREN has announced plans to redirect its growth strategy away from BTC mining and towards AI data centers and cloud services. Here’s a closer look at this significant development.

IREN Calling Off Bitcoin Mining Expansion in Favor of AI Data Centers

Australia-based Bitcoin miner IREN is redirecting its growth plans away from BTC mining and towards its AI data centers and AI cloud services businesses. As the company nears completion of its 50 EH/s mining expansion, expected to generate $528 million in annual cash Flow once completed at 52 EH/s, its focus is shifting to the next phase of growth and delivering scalable infrastructure for AI and HPC. Current installed capacity is 35 EH/s and completion is expected in the coming months. IREN shares are lower by 2.1% premarket.

Crypto Evolving: Institutional Interest Growing Cautiously

Crypto is entering the next stage of its evolution, driven not by hype or retail volumes but by growing institutional interest, according to Ayesha Kiani, COO of MNNC Group. While participation remains cautious, there is demand for stablecoin buying, and Fortune 500 companies are adding Bitcoin (BTC) or stablecoins to their balance sheets. Firms are also exploring blockchain infrastructure for decentralizing internal data operations, indicating a shift from speculative trading to corporate acceptance. Major institutional players like BlackRock and Fidelity are active in this space.

Trump Family Launches Bitcoin Mining Venture with Hut 8

The Trump family, including Eric Trump and Donald Trump Jr., has partnered with Hut 8 to launch a Bitcoin mining company called American Bitcoin. According to a press release dated March 31, the Trump family will own 20% of the company, while Hut 8 will hold the remaining 80%. Initially, the focus will be on mining operations, but there are plans to build a strategic Bitcoin reserve and potentially go public. Donald Trump Jr. stated, “From the start, we’ve backed our conviction in Bitcoin – personally and through our businesses. But simply buying Bitcoin is only half the story. Mining it on favorable economics opens an even bigger opportunity.”

Metaplanet Issues $13M Zero-Coupon Bond to Buy Bitcoin

Japanese hotel firm Metaplanet (3350) has issued a 2 billion yen ($13.3 million) zero-coupon ordinary bond, with proceeds earmarked for additional Bitcoin (BTC) purchases. The bond is scheduled to redeem on Sept. 30. Additionally, Metaplanet has been added to the BetaShares Crypto Innovators ETF (CRYP), a fund with over $50 billion in assets under management, and holds the largest weighting in the ETF at 15.5%, surpassing notable industry names such as Strategy (MSTR) and Coinbase (COIN). The ETF is traded on the Australian Securities Exchange (ASX) and offers investors exposure to companies operating in the crypto and blockchain sectors. However, the CRYP ETF is down 23% year-to-date.

Larry Fink of BlackRock Confirms Bitcoin Could Challenge US Dollar Dominance

BlackRock’s Chairman and CEO Larry Fink has officially recognized in his 2025 annual letter to shareholders that Bitcoin can challenge the U.S. dollar’s status as the global reserve currency. The letter explicitly frames Bitcoin as both a disruptive innovation and a geopolitical risk, stating that if the U.S. doesn’t get its debt under control and deficits keep ballooning, America risks losing its position to digital assets like Bitcoin. This comment marks a clear acknowledgment from the head of the world’s largest asset manager that digital assets could represent an alternative to the U.S. dollar in global markets.