New York, Jan 23, 2026, 12:51 PM EST — Regular session
- IREN shares jumped roughly 11% during midday Nasdaq trading, beating the wider rally seen in bitcoin-related stocks.
- This week saw the debut of a new -2x daily short ETF linked to IREN, offering traders a fresh quick-hit option to bet against the stock.
- IREN scheduled its quarterly results release for Feb. 5, marking the next key date for both bulls and bears to watch.
Shares of IREN Limited surged roughly 11% on Friday, reaching a peak around $58.32 amid a strong rebound in bitcoin-linked stocks. At 12:51 p.m. EST, the price stood $5.82 higher at $58.08.
The bounce is key since IREN now acts as a high-beta stand-in for two crowded trades — crypto and AI infrastructure — both known for swift shifts. With earnings approaching, traders are focusing on the upcoming milestone instead of past headlines.
A new twist here is the expanding lineup of leveraged single-stock products linked to IREN, which can magnify short-term volatility. Tradr’s 2x short fund aims for twice the inverse of IREN’s daily price movement, resetting every day. Hold it longer, and the returns can stray from straightforward “-2x” calculations. 1
Bitcoin climbed roughly 1.6% on the day, boosting the mining sector. Marathon Digital jumped around 6.5%, Riot Platforms surged about 7.5%, and CleanSpark advanced close to 8.9%.
Tradr announced Thursday the launch of four new -200% inverse daily ETFs, including the Tradr 2X Short IREN Daily ETF (IREZ), now trading on Cboe. “We are excited to bring these inverse exposures to the market so that traders can efficiently express a … bearish view,” said Matt Markiewicz, Tradr’s head of product and capital markets. 2
IREN announced late Thursday that it plans to publish results for the quarter ending Dec. 31 on Feb. 5. The company will also hold a conference call at 5 p.m. Eastern. 3
The upcoming report could serve as a crucial turning point for the stock following January’s sharp swings. Investors want clarity on execution, cash requirements, and whether the company’s operational performance matches its trading narrative.
IREN, which operates bitcoin mining, has been shifting focus toward data centers and AI cloud infrastructure. Its profile took a sharp turn in November following news of a multi-year deal with Microsoft worth roughly $9.7 billion. The contract involves providing access to Nvidia chips, Reuters reported back then. 4
The risk is clear-cut. When bitcoin dips, miners usually drop along with it. Leveraged products then tend to amplify these moves, up or down. The Feb. 5 update is pivotal: a solid report could push prices higher, but any hint of slower growth or rising expenses might derail the rally fast.
Traders are zeroing in on two key indicators as the session winds down: bitcoin’s spot price movement and the strength of flows within the crypto-miner sector. All eyes will then shift to Feb. 5, when IREN releases its report and fields questions on the conference call.
