Stock Track | IREN Ltd Continues Rally with 5.40% After-Hours Surge Following Strong Crypto Stock Performance

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IREN Ltd (NASDAQ:IREN), a prominent player in the cryptocurrency mining sector, saw its stock climb an additional 5.40% in after-hours trading on Friday. This surge follows an impressive 7.88% gain during the regular trading session, underscoring the strong momentum behind crypto-related stocks.

The extended rally in IREN's stock price appears to be part of a broader uptrend in cryptocurrency-related equities. During Friday's trading, several peers in the sector also posted significant gains, with TeraWulf Inc. (WULF) rising 6%, CleanSpark Inc. (CLSK) up 3%, and others like Cipher Mining Inc. (CIFR), Bitfarms Ltd. (BITF), and Canaan Inc. (CAN) each advancing about 2%.

While no specific catalyst was identified for Friday's coordinated surge in crypto stocks, the movement likely reflects growing investor optimism in the sector. IREN's recent strategic moves may have contributed to its standout performance. In late September, the company announced a transformative $674 million acquisition of 12,400 GPUs, including NVIDIA's advanced Blackwell and Hopper chips. This expansion has doubled IREN's AI cloud capacity and positioned it as a key player in the AI infrastructure space, potentially driving investor interest. As the crypto and AI sectors continue to evolve, IREN's stock may remain in focus for investors tracking these high-growth areas.

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