B. Riley has maintained a buy rating for Bitcoin miner IREN despite a 47% drop in its stock from a 52-week high on November 5. The firm attributes the decline to sentiment rather than fundamental issues. IREN's stock fell 8.2% to $36.82 in early trading. The analysts pointed out a $2.7 billion funding gap but emphasized IREN's $8.85 billion in capital, which includes a $1.94 billion prepayment from Microsoft. Recent financial activities include issuing $2.3 billion in new notes and a $201 million capped call. B. Riley views the stock's pullback as a cyclical reaction, not indicative of long-term problems.