Investors filed a class-action lawsuit against IREN, accusing the crypto mining company of providing false information about its high-performance computing (HPC) business. The lawsuit, led by Paul Williams-Israel, alleged that IREN misrepresented the capabilities of its Childress, Texas facility as an HPC-ready data center, leading to an overstatement of its computing capacity. The misleading information was supposedly included in a June 2023 statement about the expansion of the Childress site and its HPC strategy. The lawsuit also claimed that IREN's air cooling design was not properly tested, as revealed by a report from Culper Research. The legal action seeks compensable damages from IREN, its co-founders, and CFO. Despite a recent share price drop, IREN's market cap remains substantial, ranking it among the top Bitcoin miners. Read more AI-generated news on: https://app.chaingpt.org/news