StocksMedium•4 November 2026•
1 min read
CoreWeave and IREN Contracts Weaken on Texas Data Center Restrictions Proposal
Key Facts
1Contracts linked to CoreWeave and IREN weakened as vote counting proceeded in Texas.
2Representative Gina Hinojosa proposed pausing new data center approvals and ending tax breaks for large facilities.
3A trader opened a short position of approximately $500,000 on the CoreWeave-linked Hyperliquid contract.
Contracts linked to CoreWeave and IREN weakened as vote counting proceeded in Texas alongside legislative proposals to restrict data center growth. TokenPost reported that Representative Gina Hinojosa proposed pausing new data center approvals and ending tax breaks for large facilities, prompting a trader to open a short position of approximately $500,000 on the CoreWeave-linked Hyperliquid contract.
CRWV closed at $53.74 on November 3, 2026, having reached a session low of $50.6. These regulatory headwinds emerge as CoreWeave continues infrastructure development in Texas, including the delivery of 133 megawatts of IT load from Galaxy's Helios campus in West Texas.