Iris Energy, an Australian company that invests in renewable energy-backed bitcoin mining data centers (BTC), has doubled its second round of IPOs ahead of the first.

Platinum Asset Management’s A $ 13 million ($ 10 million) allocation of AU $ 13 million in equipment led Iris to increase its second pre-IPO target to AU $ 40 million ($ 31 million) from AU $ 20 million, Bloomberg reported. dollars. … … This was installed earlier in mid-February.

As reported in the December 2020 financial review, the bitcoin miner received $ 19.5 million in equity funding and $ 3.9 million in debt during its first round of pre-IPO funding.

Firms such as Regal Funds Management and Thorney spearheaded the capital funding round.

Meanwhile, Iris Energy is poised to file an IPO on the Australian Stock Exchange in the summer. The bitcoin miner reportedly has a $ 39 million target for a summer IPO-funded placement intended to expand BTC’s mining business.

In fact, Iris Energy has set itself the goal of increasing capacity by investing in 500 megawatt data centers located in the United States, Canada and parts of the Asia-Pacific region.

In addition to doubling its second funding target ahead of the IPO, the company also announced changes to its governance structure with new CEO Jason Conroy, chief financial officer of TransGrid, one of Australia’s largest energy companies.

Iris is the latest in a growing list of Bitcoin mining companies seeking public listing amid the current bull market for the largest cryptocurrency by market value.

In February, reports surfaced that major European bitcoin mining hardware, Northern Data, was considering a $ 500 million initial public offering backed by Swiss investment giant Credit Suisse.

The Swiss investment firm also temporarily participated in the 2019 Canaan Creative IPO.

Following the end of the battle for leadership at Bitmain, the cryptocurrency giant is expected to be ready for a fresh attempt at public listing following a failed attempt in 2018.

Source: CoinTelegraph

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