🔴 IREN is trading 10% down today following Q3 earnings and revenue decline

IREN is trading at $55.00, down 10% today following the release of Q3 earnings that highlighted a revenue decline and a significant net loss.

• The company reported a revenue decline to $144.8M and a net loss of $247.8M as it executes a strategic pivot toward AI infrastructure.
• The price action follows a $3.4B NVIDIA deal announced on May 8, suggesting post-earnings digestion or profit-taking after the stock's previous close of $61.20.
• The move appears driven by company-specific data rather than the broader crypto market, with BTC up just +0.05% and ETH down -1.11%.