🔴 IREN is trading 4.6% down today on dilution concerns from a $6B equity offering and broader crypto weakness

IREN is trading at $38.27 (-4.62%) as dilution fears persist following yesterday's $6B at-the-market equity offering announcement, overshadowing a major NVIDIA GPU purchase.

• The stock closed at $40.12 on March 5 after dropping 8.47%, reversing prior gains as the market reacts to the massive capital raise.
• Sector-wide pressure is adding to the decline, with BTC down 3.39% and ETH down 4.77% alongside a 1.41% drop in the NASDAQ.