**Iren Limited (NASDAQ: IREN) has experienced a nearly 20% decline in stock value this week, largely influenced by a broader sell-off in the tech sector and Bitcoin, as of midday Friday. The company’s shift from a Bitcoin miner to an AI cloud infrastructure provider has been overshadowed by reliance on Bitcoin, which accounted for 90% of its revenue as of December 31, 2026.**
**Despite doubling its AI cloud revenue, Iren’s lack of new AI deals and the ongoing Bitcoin downturn have negatively impacted investor sentiment. However, the company secured 95% of the financing required for graphics processing unit purchases related to a significant contract with Microsoft, which includes a near $2 billion prepayment.**
