NEW YORK, July 5, 2026, 13:01 (EDT)
- U.S. stock markets were closed Friday for the Independence Day holiday. IREN’s last Nasdaq close was Thursday, finishing at $38.82, down 10.39%.
- IREN dropped 17.8% from the close on June 26 through July 2. Over the same period, the Nasdaq Composite gained 2.1% and the Russell 1000 added 1.8% in that holiday-shortened week.
- The co-CEO RSU grant is 18.2 million units, or around 5.1% of IREN’s ordinary shares as of April 30.
- Monday’s session sets up a range, traders watching the $37.66 low from Thursday and the $43.32 close from July 1.
IREN Limited NASDAQ:IREN is set to reopen July 6 after a rough stretch that followed its addition to the Russell 1000. The stock dropped every day in its first shortened week in the index. Shares saw their steepest loss after a stock grant to the new co-CEO appeared in filings.
Nasdaq didn’t open Friday for the Independence Day holiday. IREN’s last regular session close was Thursday at $38.82, down 10.39% on volume of 60.37 million shares. That’s about 1.35 times its 65-day average, according to the market data.
On the shortened week, IREN moved ahead of the tape.
| Market | June 26 close | July 2 close | Move |
|---|---|---|---|
| IREN Limited NASDAQ:IREN | $47.21 | $38.82 | -17.8% |
| Nasdaq Composite | 25,297.62 | 25,832.67 | +2.1% |
| Russell 1000 | 4,013.81 | 4,084.45 | +1.8% |
This table pulls closing numbers from Investing.com, FRED and Russell 1000 history. Percent moves are figured off those closes.
The spread is key because IREN had just joined a big index. IREN said it was included in the Russell 1000 after the close on June 26. But the first week after that wasn’t about passive index money. It was about governance, share count, and whether the AI cloud story keeps investors on board.
IREN’s board signed off on 9,099,328 restricted stock units each for co-CEOs William Roberts and Daniel Roberts. Those RSUs vest across four years, and after vesting, there’s a two-year hold. IREN also said both CEOs are getting no more equity incentive grants before fiscal 2031.
| Award math | Figure |
|---|---|
| RSUs for William Roberts | 9,099,328 |
| RSUs for Daniel Roberts | 9,099,328 |
| Total RSUs granted | 18,198,656 |
| Value at $38.82 close | about $706.5 million |
| Percent of April 30 ordinary shares | about 5.1% |
IREN said it had 357,378,674 ordinary shares outstanding at April 30. The value and share-count percentage shown above come from that number and Thursday’s closing price.
Jim Chanos, the short-seller, posted on X that the award was a “stock grant (not options)” and called it “17% of estimated cumulative Adjusted Net Income” for the grant period. IREN’s filing said the grant got approval from independent directors after review by an external compensation consultant. X (formerly Twitter)
IREN made two top hires Thursday, naming Kambiz Aghili, who was at Oracle Cloud Infrastructure at Oracle NYSE:ORCL, as chief product officer, and Michael Nudelman, who has worked at Alphabet NASDAQ:GOOGL, CyrusOne and Beale Infrastructure, as chief development officer. CEO Daniel Roberts said IREN’s growth is about “securing large-scale land and power.” The company linked these appointments to its portfolio of 5 GW of grid-connected power. Nasdaq
IREN lists 810 MW running, 2,100 MW being built, 1,600 MW planned, and 5 GW secured on its website. This is why shareholders focus on the share count—the market is looking at the whole buildout, not just the bitcoin mining.
July 2 saw broad selling in the crypto-to-compute names, but IREN had a tougher week than just tracking Bitcoin would suggest.
| Name | Latest price or spot | Latest quoted move |
|---|---|---|
| IREN Limited NASDAQ:IREN | $38.82 | down 10.39% |
| Marathon Digital Holdings NASDAQ:MARA | $12.40 | fell 7.37% |
| Riot Platforms NASDAQ:RIOT | $22.11 | dropped 7.76% |
| Cipher Digital Inc. NASDAQ:CIFR | $20.04 | slid 12.00% |
| Applied Digital Corporation NASDAQ:APLD | $33.06 | lost 6.84% |
| NVIDIA Corp NASDAQ:NVDA | $194.83 | off 1.47% |
| Bitcoin | $62,596 | down 0.36% |
Equity prices shown are the final U.S. stock quotes from July 2. Bitcoin prices moved over the weekend.
Meta Platforms NASDAQ:META brought a new angle last week after Reuters, citing Bloomberg News, said Meta is looking at starting a cloud business aimed at selling surplus AI compute. That changes things for IREN, putting it up against GPU cloud names and big hyperscalers instead of its usual peer group in mining.
The setup for this week looks set. $37.66 from Thursday is the key level on the downside. Investors still have eyes on the $43.32 close from July 1 as the gap to watch. Next, keep an eye on the routine filing—still waiting for the periodic report with the Omnibus Plan and award agreement. Those were flagged in the July 1 8-K as exhibits due in IREN’s next periodic SEC filing.
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