IREN Stock Falls for Ninth Straight Day Amid $788M Executive Pay and $50M NBA Deal

According to a July 1 regulatory filing, IREN Ltd.'s board approved restricted stock units valued at approximately $788 million for co-CEOs William Roberts and Daniel Roberts. The same week, the Australian cloud services provider announced it will become the official jersey patch partner for the NBA's Golden State Warriors starting in the 2026-27 season, with the deal valued at more than $50 million per year.

IREN stock dropped over 10% on Thursday, extending losses to a ninth consecutive session. Retail investors expressed concerns over the sizeable executive compensation package and potential stock dilution, particularly following the company's earlier authorization of a $6 billion at-the-money equity offering.