IREN: Closes $3B Notes to Expand AI Cloud

IREN closed a $3 billion convertible notes offering to accelerate its AI cloud infrastructure buildout, shifting capital from Bitcoin mining operations into high-margin compute capacity.

Bitcoin trades at $79160 inside the Bollinger bands with a bearish trend structure, sitting below the EMA50 resistance at $80297.29 yet holding above the EMA200 support at $77226.57. The MACD death cross at -246.2 confirms fading momentum while RSI at 40.84 stays neutral, suggesting any push toward upper band resistance at $82014.69 will likely meet selling and trigger a retracement to the $78384.9 lower band before continuation.