Iris Energy shares slumped 14% after a short seller said the company’s Childress site was unsuitable for hosting artificial intelligence or high-performance computing.
Bernstein notes that the company never said it intended to retrofit the bitcoin mining site to AI.
Iris Energy (IREN) shares fell almost 14% yesterday following the publication of a short-selling report by Culper Research that noted the unsuitability of the bitcoin miner’s Childress, Texas site for artificial intelligence (AI) or high-performance computing (HPC).
The company, however, has committed most of the planned expansion at the site to bitcoin (BTC) mining, broker Bernstein said in a research report, and the existing power and data center infrastructure there work very well for that purpose.
“Iris Energy has not claimed it intends to retrofit its bitcoin mining site in Childress to AI,” analysts led by Gautam Chhugani wrote.
The broker also estimates 65% of the company’s value is derived from bitcoin mining and the remaining 35% from AI/HPC. Bernstein said it completely disagrees with the view that the mining activity is valueless.
Potential AI upside for Iris Energy comes mostly from the 1.4 gigawatt West Texas site that has a power interconnect, the report said, and the opportunity lies in the monetization of the land and the power supply.
The broker said Iris Energy’s current $1 million/megawatt capital expenditure metric is a reflection of bitcoin mining capex. Comparing it to AI/HPC capex is not meaningful.
The company’s valuation is in line with other bitcoin miners such as CleanSpark (CLSK) and Marathon Digital (MARA), whose entire valuation is driven by mining, the report said.
Bernstein initiated coverage of Iris Energy earlier this week with an outperform rating and $26 price target. The shares closed at $11.20 on Thursday.
Read more: Bitcoin Miners Are Attractive Partners to Build Artificial Intelligence Data Centers: Bernstein
clomiphene uses where can i buy cheap clomid pill how to buy cheap clomiphene where can i get cheap clomid no prescription cost of generic clomid prices can i get clomid online can i buy generic clomiphene without prescription
Thanks on putting this up. It’s okay done.
This website really has all of the information and facts I needed about this subject and didn’t know who to ask.
order generic azithromycin 500mg – metronidazole for sale order flagyl 200mg generic
rybelsus 14mg tablet – buy rybelsus paypal buy cyproheptadine 4 mg online
buy generic motilium 10mg – sumycin 250mg cheap cyclobenzaprine usa
buy inderal 10mg for sale – generic propranolol order methotrexate 5mg for sale
cheap generic amoxicillin – cheap generic amoxicillin buy generic combivent
zithromax 500mg over the counter – cost nebivolol 20mg order bystolic without prescription
order augmentin 625mg without prescription – atbioinfo.com order ampicillin pills
cheap esomeprazole 40mg – anexamate nexium 40mg usa
warfarin usa – https://coumamide.com/ cozaar 25mg brand
mobic canada – https://moboxsin.com/ buy meloxicam 15mg sale
buy ed pills without a prescription – top ed pills best ed drugs
where can i buy amoxicillin – buy cheap generic amoxicillin buy amoxicillin
cost diflucan 100mg – purchase forcan pills buy diflucan sale
generic cenforce – https://cenforcers.com/# order cenforce 50mg without prescription
when does cialis patent expire – ciltad generic generic cialis 5mg
zantac 300mg cost – ranitidine 300mg oral order ranitidine 300mg pill
tadalafil and sildenafil taken together – strong tadafl does cialis raise blood pressure
More articles like this would remedy the blogosphere richer. https://gnolvade.com/
can buy viagra rite aid – strong vpls mexican viagra 100mg
This is the description of topic I enjoy reading. azithromycin sale
Greetings! Very productive recommendation within this article! It’s the little changes which choice obtain the largest changes. Thanks a a quantity quest of sharing! https://ursxdol.com/levitra-vardenafil-online/
More articles like this would pretence of the blogosphere richer. https://prohnrg.com/product/lisinopril-5-mg/
This website really has all of the bumf and facts I needed there this participant and didn’t comprehend who to ask. https://aranitidine.com/fr/sibelium/
I’ll certainly carry back to review more. https://ondactone.com/simvastatin/
This is the tolerant of enter I find helpful.
buy generic sumatriptan over the counter
More peace pieces like this would insinuate the интернет better. http://www.zgqsz.com/home.php?mod=space&uid=846485
dapagliflozin for sale online – click order forxiga 10 mg pills