Australia-based Iren, which operates three major data centres in northern B.C. and the Kootenays, is shifting from bitcoin mining to AI data storage, resulting in a 350% stock surge and a valuation of $13 billion US. While the province has set new power access limits for AI data centres, Iren aims to triple its permanent jobs and upgrade its facilities. Despite regulatory challenges, Iren plans to continue its expansion in B.C., emphasizing the potential economic benefits of AI over crypto mining. The province’s new policies prioritize power for resource projects, mandating AI centres to bid for electricity access.
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