IREN Stock Is Down More Than 10% Today – But Retail Calls It A Bargain

• IREN has switched its focus to becoming an AI-focused firm.
• It earlier in the month announced that it has entered into purchase agreements for over 50,000 Nvidia (NVDA) B300 GPUs that will expand its total fleet to 150,000 GPUs.
• One Stocktwits user called the stock a ‘good deal’ at current price levels. 

IREN stock is down 10% on Monday as volatile bitcoin continues to weigh on crypto-linked stocks. 

However, retail traders are seeing the IREN stock as a bargain and are buying the dip in the stock.

Retail Reaction

Retail sentiment around IREN trended in ‘bullish’ territory amid ‘high’ message volume. 

One user said to ‘buy the dip’ on IREN.

Another user said that stock has not hit its bottom levels and thus they are not selling the stock. 

Another user called the stock a ‘good deal’ at current price levels. 

Recent News

IREN has switched its focus to becoming an AI-focused firm. It earlier in the month announced that it has entered into purchase agreements for over 50,000 Nvidia (NVDA) B300 GPUs that will expand its total fleet to 150,000 GPUs. It expects to deploy the additional GPUs in phases through the second half of 2026 across its existing air-cooled data centers in Mackenzie, British Columbia and Childress, Texas. 

The 150,000 GPU fleet is expected to support AI Cloud annualized run-rate revenue of over $3.7 billion by the end of 2026. Existing data centers at Canal Flats and Childress provide capacity to support additional GPUs over time.

Iren has also secured $9.3 billion of funding in the past eight months across customer prepayments, convertible notes, GPU leasing and GPU financing. The company expects to leverage these and other capital sources to finance approximately $3.5 billion of additional capex for these orders expected in the second half of 2026.

Shares in the company have fallen 19.4% so far in 2026. 

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