On July 31, IREN Ltd fell 5.31% in regular trading, trading at $35.87/share, with turnover of $680 million. The decline came amid a broad selloff across cryptocurrency concept stocks, with Coinbase dropping over 12%, Strategy falling over 8%, and BMNR declining over 7%.

The pullback partially retraces IREN Ltd's recent sharp gains. The stock had surged over 14% on July 30 as markets digested its $2.8 billion multi-year AI cloud services contracts with leading AI developers, alongside an upward revision of its year-end AI cloud annualized recurring revenue target from $3.7 billion to over $4 billion. Approximately 85% of the updated target is secured under long-term contracts with a weighted average term of about four years.

Despite strong AI business momentum, IREN Ltd's dual exposure to bitcoin mining and AI cloud infrastructure subjects it to crypto sector sentiment swings, amplifying downside pressure during broad-based digital asset selloffs.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)