Hut 8 Corp., (HUT), Wednesday morning, called the report last week from JCapital Research a “deliberate attempt to spread false information about Hut 8’s operations, finances and management practices, as well as key executives.”

In an press release Hut 8 said the report was “filled” with “inaccuracies and misrepresented data as well as speculative statements and unfounded character assaults.”

After JCapital Research , a short-selling company, released a report claiming that Hut 8’s merger with fellow mining firm US Bitcoin was a “pump and dump” waiting to happen.

In the report, USBTC was said to have a long history of legal troubles, defaulted on loans, and paid two fines from the government, including one for securities violations.

Hut 8 CEO Jaime Leverton said: “We won’t be derailed by activists that profit from spreading false information and defamatory character assassinations.” The short report is full of speculative allegations and misinformation.

HUT shares have not recovered since the Jan. 18 plunge, with yesterday’s closing price of $6.33 being lower by 5.3%. Shares are up 5.7% in premarket, alongside a modest rise in bitcoin’s price.

Read more: Bernstein says to buy the dip in Bitcoin mining stocks before BTC price ‘Inflection.

Stephen Alpher edited the book.