On September 15, IREN Ltd declined 5.05% in regular trading, trading at approximately $41.03 per share with turnover of $880 million, erasing gains from a recent JPMorgan upgrade.

The decline came as crypto-linked stocks sold off broadly ahead of the U.S. Senate procedural vote on the CLARITY Act. IREN was among several crypto concept names under pressure, alongside Coinbase, Strategy, Riot Platforms, and others. Republicans rejected a Democratic compromise proposal ahead of the vote, dimming prospects that the bill could secure the 60 votes needed to advance. Polymarket odds for the bill being signed into law this year declined, with investors fearing the legislation could be shelved until after midterm elections or even later.

Bitcoin fell roughly 3% to around $76,000, adding further downside pressure on crypto-adjacent equities. Separately, broader AI and tech sentiment was weighed down by Anthropic CEO Dario Amodei's call to slow AI development, which triggered selling across AI infrastructure names including GPU and data center stocks.

Notably, JPMorgan had just upgraded IREN to Overweight from Underweight on September 14, raising its price target to $65 from $46, with analyst consensus maintaining a buy rating and a mean target of $81.43.

(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.)