Why These 15 Data Center Stocks Are Plunging In 2025

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8. IREN Ltd (NASDAQ:IREN)

Number of Hedge Fund Holders In Q4 2024: 44

IREN Ltd (NASDAQ:IREN) is mainly a crypto mining company, but it is pivoting strongly to AI and data center operations.

The stock is down significantly so far in 2025 due to Bitcoin topping out and starting to decline. Most risky assets have been sold off by investors this year due to broader market uncertainty.

Plus, there are concerns about the company’s dilution risk since it announced a $440 million convertible senior notes offering late last year.

The consensus price target of $20.4 implies 182.94% upside.

IREN stock is down 26.53% year-to-date.

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