CryptoWorld News reports that, according to Cointelegraph, Bernstein analysts said that Iren is transitioning to AI cloud infrastructure and expects annual revenue to reach $3.7 billion. Iren’s AI cloud division is rapidly expanding, having signed about 150,000 GPUs, and once fully deployed and operational, it is expected to support annual revenue of $3.7 billion. Part of this capability is related to a long-term agreement with Microsoft, under which Microsoft has committed to using these GPUs for AI workloads within five years. Bernstein also expects that Iren will gradually wind down its Bitcoin mining business and, in turn, accelerate its cloud computing deployments. The analysts further noted that Iren’s AI cloud revenue will become its primary revenue source in the coming years.