According to reports, Australian Bitcoin miners will raise US$200 million before listing on Nasdaq

Iris Energy, a Bitcoin located in Sydney (Bitcoin) Mining companies that invest in data centers powered by renewable energy are reportedly planning to raise new funds before the expected NASDAQ listing.

Bloomberg Report The new round of financing plans to raise approximately US$200 million in preparation for listing on the US stock exchange. Iris Energy has already met with potential investors and plans to list on the Nasdaq before the end of the year.

The report called for earlier negotiations on a special purpose acquisition company (SPAC), which will make it possible for the green energy BTC miner to be listed in the United States at a price of 30 to 500 million U.S. dollars. However, Iris Energy now prefers private equity or through the issuance of shares rather than SPAC transactions to raise funds, because the latter will dilute the shares of existing investors.

Long before Bitcoin’s green mining became a hot topic, Iris Energy began its initial public offering (IPO) journey. The company received US$19.5 million in equity financing and US$3.9 million in debt in the first round of pre-IPO financing in December 2020.

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Equity management company Platinum Asset Management’s 13 million Australian dollars (10 million US dollars) pledged Iris to increase its second pre-IPO target from the initial 20 million Australian dollars set early in mid-February to 40 million Australian dollars (31 million US dollars) ).

then, Cointelegraph report Iris Energy is preparing to apply for an IPO with the Australian Securities Exchange. The new funding will enable Iris Energy to increase its capacity by investing in 500 MW data centers in the United States, Canada and several countries in the Asia-Pacific region.