{"id":6395,"date":"2021-07-20T11:54:31","date_gmt":"2021-07-20T10:54:31","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=6395"},"modified":"2021-07-20T11:54:40","modified_gmt":"2021-07-20T10:54:40","slug":"bitcoin-sydney-based-mining-firm-to-raise-200m-ahead-of-nasdaq-ipo","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitcoin-sydney-based-mining-firm-to-raise-200m-ahead-of-nasdaq-ipo\/","title":{"rendered":"Bitcoin: Sydney-based mining firm to raise $200M ahead of Nasdaq IPO"},"content":{"rendered":"\n
According to reports, an Australian Bitcoin miner<\/a> is raising funds in preparation for the United States' tech-focused exchange.<\/h5>\n\n\n\n
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It has been claimed that Iris Energy, a Sydney-based Bitcoin \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>(BTC) mining company that invests in data centres powered by renewable energy sources, seeks to raise more money ahead of its anticipated Nasdaq IPO.<\/p>\n\n\n\n

According to Bloomberg, the latest fundraising round aims to generate approximately $200 million in order to prepare for the company's planned IPO on the New York Stock Exchange.<\/p>\n\n\n\n

Iris Energy has already spoken with potential investors and intends to file for a Nasdaq listing by the end of the year, according to the company.<\/p>\n\n\n\n

The storey refers to past discussions on special purpose acquisition companies (SPACs), which might pave the way for a prospective U.S. IPO for the green energy BTC miner<\/a>, with a valuation of $300\u2013500 million.<\/p>\n\n\n\n

However, Iris Energy now favours a private placement or raising funds through the sale of equity shares rather than a SPAC transaction, as the latter would have eroded the interests of the existing investors in the company.<\/p>\n\n\n\n

Iris Energy began its road toward an initial public offering (IPO) long before the topic of green mining in Bitcoin became a prominent topic of discussion.<\/p>\n\n\n\n

During its first pre-IPO investment round, which took place in December 2020, the firm raised $19.5 million in equity funding and $3.9 million in debt financing.<\/p>\n\n\n\n

Iris was able to increase its second pre-IPO target to 40 million Australian dollars ($31 million) after receiving a commitment of 13 million Australian dollars ($10 million) from equity manager outfit Platinum Asset Management.<\/p>\n\n\n\n

The company had originally set a target of 20 million Australian dollars ($10 million) in mid-February.<\/p>\n\n\n\n

Cointelegraph revealed at the time that Iris Energy was preparing to file an initial public offering (IPO) with the Australian Securities Exchange.<\/p>\n\n\n\n

It is anticipated that the new funding will allow Iris Energy <\/a>to expand its capacity by investing in 500 megawatt data centres in the United States, Canada, and a number of nations throughout the Asia-Pacific region.<\/p>\n","protected":false},"excerpt":{"rendered":"

According to reports, an Australian Bitcoin miner is raising funds in preparation for the United States’ tech-focused exchange. It has been claimed that Iris Energy, a Sydney-based Bitcoin (BTC) mining company that invests in data centres powered by renewable energy sources, seeks to raise more money ahead of its anticipated Nasdaq IPO. According to Bloomberg, […]<\/p>\n","protected":false},"author":13,"featured_media":6396,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83,3,21],"tags":[152,370,592,1626],"class_list":["post-6395","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","category-breaking","category-news","tag-bitcoin","tag-mining","tag-nasdaq","tag-tech"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/07\/image-185.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/6395","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=6395"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/6395\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/6396"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=6395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=6395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=6395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}