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RE: LeoThread 2024-07-12 06:42

in LeoFinance7 months ago

Iris Energy shares plunge 14% on AI computing support doubts

Iris Energy (IREN), the Australian Bitcoin mining company, saw its shares plunge 14% on Jul. 12 after short seller Culper Research issued a report, raising concerns over Iris’ capabilities to provide high-performance computing (HPC) services for artificial intelligence (AI) in Childress, Texas.

In a Jul. 11 report, Culper said that Iris’ flagship Childress buildout “lacks numerous features that are critical to HPC applications,” adding that the firm’s management — Iris Co-CEO Daniel Roberts and his brother Will — have started selling their own shares since February, which was the first time since Iris went public.

#newsonleo #irisenergy #ai #crypto #bitcoin #mining