IREN Ltd is trading 4.5% down at $59.05 in pre-market, extending a multi-day pullback as a risk-off sentiment hits digital assets and growth stocks.
- Major cryptocurrencies including Bitcoin and Ethereum have declined 2–6%, creating significant headwinds for crypto-linked miners.
- The downward move follows yesterday's rally sparked by an upgraded $96 price target and news of the company's AI data center expansion in Australia.
- Broader market pressure is evident as tech-heavy indices futures trade lower, further weighing on high-growth equity names.