TechFlow news, November 7 — According to Bloomberg, Daniel and Will Roberts, former bankers at Macquarie Group, have successfully completed a business transformation, shifting from a collapsing Bitcoin mining operation to the artificial intelligence data center sector, restoring their net worth to $850 million. Their company, IREN Ltd., went public in November 2021 at the peak of the cryptocurrency boom, but subsequently saw its stock price plummet by 96% in 2022, nearly facing collapse. Eighteen months ago, the Roberts brothers decisively pivoted, shifting their business focus from cryptocurrency to providing data centers and computing power for the AI boom, successfully seizing the rapid growth opportunities in the AI industry and achieving a major business turnaround.
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