Bitcoin Miners Turn AI Allies: The Iren and Cipher Pivot

In 2025, bitcoin miners Iren and Cipher are breaking out of their traditional mold, embracing artificial intelligence as a strategic lever for growth. Iren reported a stunning 228% rise in revenue and posted positive earnings in its latest quarter, a remarkable turnaround from its prior loss. Crucially, it secured “preferred partner” status with Nvidia and expanded its GPU fleet to nearly 11,000 units—an aggressive push into AI cloud infrastructure that signals its ambition to support high-demand workloads alongside mining.

Cipher Mining isn’t lagging behind. It’s rapidly scaling its Black Pearl facilities in Texas, where low-cost, hydropowered setups are being dual-purposed for both bitcoin mining and AI-driven compute. With a pipeline of projects totaling over 2.6 gigawatts and development plans that invite high-performance computing tenants, Cipher is morphing from a pure miner into an integrated data-center provider. This hybrid model provides diversification and new revenue streams—a compelling proposition to investors in a volatile crypto landscape.

Together, Iren and Cipher exemplify a broader industry trend: the melding of crypto and AI. By leveraging existing energy infrastructure and high-bandwidth connectivity, they are carving new niches in a market hungry for AI processing. While the upfront investments are steep, this pivot offers a more stable and multi-faceted future—one where earnings aren’t tied solely to bitcoin prices, but also to the booming demand for data-intensive compute services.