Why Is IREN Stock Sliding on Monday?

by | Aug 24, 2026 | General

IREN (NASDAQ:IREN) stock is sliding on Monday, driven primarily by pre-earnings anxiety and profit-taking following a volatile stretch for the equity.

The Nvidia (NASDAQ:NVDA)-backed Bitcoin (CRYPTO: BTC) miner and AI data center provider is scheduled to publish its fiscal fourth-quarter 2026 financial results on Thursday.

The stock remains in a bear market, having fallen over 48% from its 52-week high. Nasdaq futures are down 1.26% while S&P 500 futures have shed 0.32%.

Earnings Face Crypto Winter Impact

IREN’s upcoming results will offer insights into the impact of the recent crypto winter on its core operations. Although the company continues its transformation into an AI data center provider, Bitcoin mining still generates the majority of its total revenue.


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In the second quarter, revenue fell to $144 million from $184 million in the prior-year period due to lower Bitcoin prices and infrastructure decommissioning.

Analysts expect second-quarter revenue to drop 25% year-over-year to $140 million.

AI Deals Drive Long-Term Outlook

Wall Street projects annual revenue to grow 41% this year to $422 million, reaching $2.9 billion next year.

Growth expectations stem from AI product demand, including a $2.8 billion contract with companies like Figure AI and Perplexity, alongside a $9.3 billion deal with Microsoft (NASDAQ:MSFT).

The company also completed a $625 million acquisition of cloud infrastructure provider Mirantis.

Key Levels: Above 20-Day SMA, Below 50-Day SMA

From a trend perspective, IREN is in a mixed spot: it’s trading above the 20-day SMA ($39.92), but it remains below the 50-day SMA ($43.56), 100-day SMA ($47.33), and 200-day SMA ($46.61). That “short-term bounce inside a longer-term downtrend” look is reinforced by the bearish crossover structure, with the 20-day SMA below the 50-day SMA and a death cross in August (50-day SMA below the 200-day SMA).

Momentum is best read through RSI, which sits at 50.88—basically neutral—suggesting the stock isn’t stretched enough to force either capitulation selling or a momentum chase.

  • Key Resistance: $43.50
  • Key Support: $37

IREN Price Action: Iren shares were down 5.13% at $39.72 at the time of publication on Monday, according to Benzinga Pro data.


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Photo by T. Schneider via Shutterstock