IREN's 444th-Ranked Volume Amid U.S. Tariff Pressures, Surpasses MARA in BTC Output

On August 12, 2025, IREN (NASDAQ: IREN) closed down 0.78% with a trading volume of $230 million, a 31.04% decline from the prior day’s volume. The stock ranked 444th in terms of activity on the NYSE. Recent developments highlight growing regulatory and operational pressures for the miner, particularly amid U.S. tariff policies targeting imported mining hardware.

IREN faces potential liability over alleged Chinese origin tariffs on ASICs imported between April 2024 and February 2025. The company claims documentation from suppliers confirms non-Chinese origin, but if found liable, it could incur up to $100 million in additional tariffs. This follows similar issues at CleanSpark, which faces a potential $185 million tariff burden for Antminers. The U.S. government’s retroactive application of tariffs on mining equipment has created uncertainty, with companies like Bitmain and MicroBT shifting production to the U.S. to mitigate risks.

Despite these challenges, IREN outperformed peers in July 2025, producing 728 BTC—surpassing longtime leader MARA by 25 tokens. The miner’s average operating hashrate rose 10% to 45.4 EH/s, contributing to record monthly revenue of $83.6 million. This performance underscores IREN’s ability to scale operations amid sector-wide volatility, though regulatory headwinds remain a critical risk factor.

The strategy of buying the top 500 stocks by daily trading volume and holding for one day yielded a $2,550 profit from 2022 to the present. However, the approach experienced a maximum drawdown of -15.2% on October 27, 2022, highlighting the strategy’s volatility despite overall gains.