NEW YORK, December 29, 2025, 18:37 ET — After-hours
IREN Limited shares fell about 2.3% in after-hours trading — the session after the 4 p.m. close — and were last at $39.41. The stock traded between $38.55 and $42.25 on Monday, with volume near 21.9 million shares.
The move matters now because IREN trades as a high-beta proxy for risk appetite, with investors often treating it as a quick way to add or cut exposure to crypto-linked cash flows and data-center growth themes. Thin year-end liquidity can magnify those swings.
Bitcoin edged lower, keeping pressure on the crypto complex into the final sessions of 2025. The token was down about 0.6% around $87,147 after earlier topping $90,247 and dipping as low as $86,780.
The broader tape was softer as well. The S&P 500 slipped 0.35% and the Nasdaq Composite fell 0.50% as heavyweight technology names pulled back, a Reuters report said, with investors also looking ahead to Fed meeting minutes and weekly jobless claims later this week. “It’ll turn out to be a buying opportunity,” said Hank Smith, director and head of investment strategy at Haverford Trust. 1
Crypto-exposed stocks moved in the same direction. Marathon Digital eased 1.1%, Riot Platforms fell 1.8%, CleanSpark dropped 1.8% and Coinbase lost 1.3% in late trading.
Miners are among the market’s more volatile trades because their revenue is closely tied to bitcoin prices; they run specialized computers to validate transactions on the Bitcoin network and earn bitcoin as a reward.
Company-specific headlines were limited. IREN’s investor news feed lists its most recent release on Dec. 8, tied to financing activity and a note repurchase. 2
IREN positions itself as both a bitcoin miner and an AI cloud and data-center operator, with sites in Texas and British Columbia, Canada. 3
For traders, the next watch is whether bitcoin steadies after Monday’s pullback and whether crypto proxies stabilize as the market approaches the New Year holiday.
Any renewed tech selling or jump in bond yields would likely keep pressure on high-beta names. A rebound in bitcoin, by contrast, tends to lift miners quickly because the market prices in the change in expected coin-driven revenue.
For IREN, Monday’s low near $38.55 is the near-term reference point after the stock’s wide intraday range, with attention also on whether it can regain the $40 level in regular trading on Tuesday.
