NEW YORK, January 2, 2026, 12:43 ET — Regular session
- IREN shares rose about 11% in midday Nasdaq trading, outpacing a broader mixed U.S. tape
- Bitcoin gained roughly 2% near $90,000, lifting crypto miner peers
- A newly filed Form S-8 registers 17.5 million shares for an employee incentive plan
Shares of IREN Limited jumped 10.8% to $41.85 by late morning trading on Friday, extending a sharp rebound for the crypto-linked stock in the first U.S. session of 2026.
The move matters because IREN sits at the intersection of bitcoin prices and the AI infrastructure trade, two themes that can swing hard as investors reset portfolios for the new year. “The market is looking for direction,” said Matthew Maley, chief market strategist at Miller Tabak, as traders eye next week’s U.S. jobs report and inflation data for signals on Federal Reserve policy. Reuters
Bitcoin was up 2.4% at about $90,432, helping lift a group of U.S.-listed miners and related names. Marathon Digital gained about 9%, Riot Platforms rose roughly 11% and CleanSpark added nearly 13%.
Crypto-linked stocks are listed companies whose revenues and investor sentiment tend to move with digital-asset prices, making them higher-risk, higher-volatility trades when markets turn “risk-on” or “risk-off.”
IREN also disclosed a fresh share-registration filing on Friday. A Form S-8 filed with the U.S. Securities and Exchange Commission covers 17.5 million ordinary shares for issuance under the company’s 2025 Omnibus Incentive Plan, the filing showed. Streetinsider
An S-8 is a registration statement companies use to register shares earmarked for employee compensation plans. The filing does not mean the shares are issued immediately, but it increases the pool of stock that can be issued over time, which investors often monitor as a potential source of dilution.
IREN, incorporated in Australia, reports two operating segments: Bitcoin Mining and AI Cloud Services, according to its most recent quarterly filing. SEC
The company has tried to broaden its appeal beyond mining by selling GPU cloud services for AI workloads. A prior company filing said IREN’s GPU services contract with Microsoft targets phased deployments during 2026, with a total contract value of about $9.7 billion through 2031. SEC
For equity traders, the near-term focus is whether IREN can execute on build-out timelines while keeping funding needs and dilution in check, a recurring pressure point for capital-intensive data center and mining operators.
On the mining side, pricing remains the main swing factor. Bitcoin’s price directly affects the dollar value of mined coins, while competition and network conditions can influence the cost to produce them.
Technically, traders were watching whether IREN could hold above the $40 level after touching an intraday high near $42.10 earlier in the session, LSEG data showed.
The next catalyst list for the sector includes macro data that can move risk assets broadly, including the U.S. employment report due January 9 and the consumer price index on January 13. Reuters
