New York, January 30, 2026, 12:17 EST — Regular session
- IREN shares dipped midday, dragged down by a slump in bitcoin.
- IREN’s quarterly report and call on Feb. 5 will be the stock’s next major catalyst.
- Investors juggle the AI cloud expansion alongside volatile crypto moves.
IREN stock dropped 8.5% to $54.73 by midday Friday, slipping $5.11 from Thursday’s close. Bitcoin’s decline hit crypto-related stocks hard as traders pulled back. The shares started the day at $58.39, briefly climbed to $59.35, then slid down to $54.68 on roughly 21.7 million shares traded.
The stock swung sharply around the $60 mark over two days. IREN climbed 4.9% Wednesday, then slipped 4.9% Thursday, each day seeing volume top 40 million shares, according to StockAnalysis.com data. 1
It’s significant now since IREN enters earnings priced as a high-beta play on both bitcoin and AI infrastructure. Traders have been quick to fade rallies and push dips, holding out for more than just momentum to justify moves.
U.S.-listed bitcoin miners took a hit on Friday. Marathon Digital slipped 2.9% to $9.57, Riot Platforms plunged 7.7% to $15.67, and CleanSpark dropped 4.5% to $12.02.
IREN told investors it will release its quarter-ending Dec. 31, 2025 results on Feb. 5, with a conference call set for 5 p.m. ET that day. The company described itself as an AI cloud service provider, offering large-scale GPU clusters — the graphics processors essential for training and running AI models — supported by data centers in the U.S. and Canada. 2
Zacks Investment Research set the fiscal second-quarter revenue consensus at $230.12 million, with an expected loss of 9 cents per share. The firm highlighted plans to scale GPU capacity from roughly 23,000 units to 140,000 by the end of 2026. However, the expansion comes with a hefty price tag — around $5.8 billion for GPUs and related infrastructure. Funding for this growth is likely to come from a blend of cash, debt, equity, and convertible notes, Zacks noted. Meanwhile, competition is heating up, with Applied Digital and TeraWulf stepping up their AI data-center efforts. 3
TipRanks reported that H.C. Wainwright analyst Mike Colonnese flagged “quite high” execution and financial risks tied to the expansion. The firm also noted Wall Street’s consensus rating as a Moderate Buy, with an average price target of $82.80. 4
Crypto-linked stocks rarely sit tight for earnings. When bitcoin pulls back, miners often tumble even more sharply as traders rush to unwind leverage. Plus, any sign of weakening GPU deployments or fading customer demand can quickly sour sentiment.
Investors will tune in not just for the headline revenue and loss numbers, but also for clues on timing and financing. Management’s tone—whether upbeat or guarded about the buildout’s speed—will be closely watched.
The Feb. 5 report and 5 p.m. ET conference call will mark the nearest thing to a defining moment for the stock after this week’s wild swings.
