Iren stock rises after new cloud deal and strong backlog

Iren's stock experienced an increase after the company announced a new cloud-computing deal, according to MarketWatch.

The company also highlighted that a significant portion of its backlog is associated with investment-grade counterparties, which may contribute to investor confidence.

This development follows a period of significant selloff for Iren's stock, suggesting a potential turnaround in market sentiment.

Investors are likely watching how these new contracts and the quality of Iren's backlog will impact its future financial performance.