IREN Limited Stock Falls 4.4% as $6 Billion Share-Sale Plan Clouds AI Expansion
IREN Ltd shares fell 4.4% to $42.96 Tuesday, erasing part of Monday’s 8% gain, as the company pursues a $6 billion equity sale to fund a shift from bitcoin mining to AI cloud infrastructure. IREN has already sold 66.7 million shares for $1 billion and may issue up to 154 million more, raising dilution concerns. The company reported $2.8 billion in cash and $9.2 billion in secured funding as of Jan. 31.