IREN is trading 4.1% down today at $61.44 as the stock undergoes consolidation following a sharp two-day rally.
- The recent surge was driven by major analyst price target hikes and market enthusiasm surrounding a $1.6 billion Nvidia Blackwell AI data center deal.
- Today's decline is viewed as standard profit-taking after double-digit gains, particularly as Bitcoin, Ethereum, and broader market indices remain in the green.