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IREN showed some resilience today—managed to hold near its EMA10 while the rest of the mining sector took a beating. Not exactly a victory lap though. That convertible note drop after the bell? Yeah, that's gonna sting. Adds more weight to the correction pattern we've been watching unfold. Called this move yesterday and here we are. The technical setup was already sketchy, now there's fundamental pressure piling on. Sector rotation hitting hard, and IREN's not immune despite today's relative strength. Watch how it handles this note dilution—could get messier before any real bounce materializes.