01:38 PM EDT, 07/11/2024 (MT Newswires) -- Iris Energy ( IREN ) shares fell 13% in recent trading Thursday following a report by short seller Culper Research alleging the bitcoin miner's flagship Childress County, Texas, buildout "lacks numerous features that are critical to high-performance computing applications."

Investors will see the HPC claims "are nonsense," and Iris Energy ( IREN ) "remains a cash-guzzling machine," the 17-page report said.

Iris Energy ( IREN ) didn't immediately reply to a request for comment from MT Newswires.

Intraday trading volume topped 38.6 million shares versus the daily average of 13.6 million.

Price: 11.26, Change: -1.64, Percent Change: -12.71