IREN Stock Falls as Texas Elects Governor Backing Data-Center Moratorium

IREN Limited (NASDAQ: IREN) shares fell 4.25% to $23.42 in early Wednesday trading ahead of the U.S. market open, as Democrat Gina Hinojosa’s election as Texas governor renewed attention to proposed restrictions on data-center development. Hinojosa defeated incumbent Governor Greg Abbott in the November 3 election after campaigning for a moratorium on new data-center permits until state lawmakers establish stronger protections for electricity customers, water supplies, and local communities. Her proposal calls for greater community involvement in development decisions and measures to prevent households from bearing additional infrastructure costs. By contrast, Abbott’s existing permitting pause is tied to regulatory audits.

Source: The Crypto Basic