Shares of Sydney-based Bitcoin miner and data center operator Iren Limited (IREN) edged lower on Tuesday afternoon. The stock was among several crypto-linked names and risk assets that fell on Tuesday amid rising U.S.-EU geopolitical tensions.
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Shares in Bitcoin treasury company Strategy (MSTR) and crypto trading platform provider Galaxy Digital (GLXY) — which also operates as a data center operator — also plummeted 8% and 6%, respectively, as of 12:53 p.m. EDT. In addition, companies directly tied to the digital asset market Coinbase (COIN) and Circle Internet (CRCL), were also not spared, dropping about 5% each.
Moreover, Iren’s competitors, New Jersey-based CoreWeave (CRWV) and Amsterdam-based Nebius (NBIS) also tumbled, falling by about 6% and 7%, respectively.