IREN is trading at $31.22, down 10.29%, as its newly proposed 900-megawatt Redbank data center project in Australia, which lacks firm grid connections and planning approvals, spooks investors. This company-specific worry is compounded by a hotter-than-expected CPI report pressuring risk-sensitive shares, and continued scrutiny over past SemiAnalysis reports of reliability issues at IREN’s British Columbia facilities. Bitcoin's minor decline also added to general crypto-market pressure today.