IREN is trading 4.07% up at $48.58 as Bitcoin rises 6.04% since the September 18 close.
- Ethereum gains 4.47%, strengthening sentiment across crypto-linked equities.
- Broad risk appetite is supportive, with the S&P 500 up 1.59% and Nasdaq Composite up 2.20%.
- Rothschild Redburn initiated IREN at Neutral with a $40 price target, but the cautious note does not explain the gain.