IREN Stock Jumps as Bitcoin Rebounds Above $70,000, but $6 Billion Share-Sale Overhang Lingers
IREN Ltd shares rose 2.1% to $42.16 Monday as bitcoin climbed above $70,000, lifting crypto-linked stocks. The company is expanding its AI cloud business with a major Nvidia chip purchase and may sell up to $6 billion more in stock. Quarterly revenue fell, but AI services revenue increased. Monday’s gain left IREN shares below their March 4 close.