Iris Energy Has Committed Most of Childress Site to Expansion of Bitcoin Mining: Bernstein
Briefly

from Coindesk7 months ago
Iris Energy shares fell almost 14% following a short-selling report noting the unsuitability of their Texas site for AI or HPC.
Coindeskhttps://www.coindesk.com/markets/2024/07/12/iris-energy-has-committed-most-of-childress-site-to-expansion-of-bitcoin-mining-bernstein/
The broker Bernstein clarified that Iris Energy had not intended to retrofit its site for AI and highlighted the value derived from bitcoin mining.
Coindeskhttps://www.coindesk.com/markets/2024/07/12/iris-energy-has-committed-most-of-childress-site-to-expansion-of-bitcoin-mining-bernstein/
Bernstein stated that the company's valuation, largely driven by bitcoin mining, is comparable to other miners such as CleanSpark and Marathon Digital.
Coindeskhttps://www.coindesk.com/markets/2024/07/12/iris-energy-has-committed-most-of-childress-site-to-expansion-of-bitcoin-mining-bernstein/
The potential upside for Iris Energy in AI primarily lies in their West Texas site's power infrastructure for land monetization and power supply.
Coindeskhttps://www.coindesk.com/markets/2024/07/12/iris-energy-has-committed-most-of-childress-site-to-expansion-of-bitcoin-mining-bernstein/
Read at Coindesk
#iris-energy #bitcoin-mining #artificial-intelligence #short-selling #valuation
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