On June 3, IREN Ltd rose 5.63% in regular trading, trading at $68.8/share, with trading volume of approximately $823 million.

On the news front, IREN has signed a transmission connection agreement to support its planned 800-megawatt data center campus in Bondi, South Australia, located approximately 78 miles northeast of Adelaide. The agreement marks a critical milestone in grid access for this large-scale AI infrastructure project, further advancing the company's AI compute transformation.

The rally builds on a series of recent catalysts, including a $1.6 billion purchase agreement with Dell for NVIDIA air-cooled Blackwell systems, a $3.65 billion investment-grade GPU financing facility, NVIDIA's investment commitment of up to $2.1 billion, and Microsoft's $9.7 billion compute agreement. Notably, the Application Software sector traded broadly lower on the day, with Palantir down 4.35%, Salesforce down 3.62%, and Datadog down 7.0%, underscoring the market's independent recognition of IREN's AI compute strategy.

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