Iris Energy (IREN) shares fell nearly 14% yesterday after Culper Research released a short-selling report stating that Bitcoin miner Iris Energy's Childress, Texas plant is not suitable for artificial intelligence (AI) or high-performance computing (HPC).。However, brokerage firm Bernstein said in a research note that the company has used most of the planned expansion of the site for Bitcoin (BTC) mining, and that the existing power and data center infrastructure there is well suited for this purpose.。The analyst, led by Gautam Chhugani, wrote: "Iris Energy has not claimed that it intends to transform its Bitcoin mining station in Childress into artificial intelligence.。Bernstein estimates that 65% of the company's value comes from bitcoin mining, with the remaining 35% coming from AI / HPC.。Bernstein also said that he completely disagrees with the view that mining activities are worthless, and Iris Energy's potential artificial intelligence advantage mainly comes from having a power interconnection..4 GW West Texas site, opportunity lies in monetization of land and electricity supply。