Stock Track | IREN Ltd Plummets 5.04% Intraday Amid Crypto Sector Sell-Off Following Bitcoin Depot Bankruptcy

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IREN Ltd's stock plummeted 5.04% during intraday trading on Monday, as the broader crypto sector faced significant selling pressure.

The decline in IREN's share price coincided with a sector-wide downturn for crypto-related stocks. This sell-off was triggered by news that Bitcoin Depot Inc., once the largest operator of crypto ATMs in North America, filed for bankruptcy, marking a major blow to the digital asset industry.

IREN, historically known for its bitcoin mining operations, was caught in the broader market movement as investor sentiment turned negative towards companies associated with digital assets following this development.

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