JOURNAL ARTICLE

Iris Energy Tumbles After Short Seller Culper Questions AI Aspirations.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Taubman, Benjamin 3 of 3

Abstract

Shares of Iris Energy, a Bitcoin mining company, dropped significantly after Culper Research raised concerns about the company's ability to support high-performance computers for generative AI. Culper alleged that Iris Energy's data centers lack the necessary power for this purpose. Additionally, Culper pointed out that Iris' Co-Chief Executive Officers have been selling shares, and the company has burned through a significant amount of cash. However, analysts at Bernstein SG disputed Culper's claims and gave Iris Energy an "Outperform" rating. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/07, pN.PAG
  • Document Type:Article
  • Subject Area:Computer Science
  • Publication Date:2024
  • Accession Number:178405187
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