Iren (IREN) Drops Nearly 14% After Hours as Bitcoin Mining Stocks Struggle
As seen on the 24/7 Wall St. homepage on July 29, 2026.
Bitcoin mining stocks face mounting pressure as sector struggles to sustain momentum despite pivot toward AI data center hosting.
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Shares of Iren fell sharply in after-hours trading on July 29, 2026, sliding from an opening price of $34.07 to around $29.31 — a decline of nearly 14%. The drop unfolded quickly and steadily over the session, with the stock losing more than two dollars in the opening stretch before stabilizing in the upper $29 range.
The sell-off reflects broader pressure on Bitcoin mining stocks, a sector that has struggled to sustain momentum even as some players, including Iren, have pivoted toward AI data center hosting as an alternative revenue stream. That strategic shift has so far not been enough to insulate miners from the headwinds weighing on the group.
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For investors watching Iren, the key question is whether the AI data center angle can gain enough traction to offset the volatility that comes with Bitcoin mining exposure. Until that thesis shows up more clearly in results, the stock may remain sensitive to sector-wide sentiment swings.
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Mentioned: IREN