June 21, 2021

Australian green energy Bitcoin mining firm doubles pre-IPO funding round

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Iris Energy, an Australian firm that invests in Bitcoin (BTC) mining data centers powered by renewable energy sources, has doubled its second pre-initial public offering round.

According to Bloomberg, a 13 million Australian dollar ($10 million) commitment from equity manager outfit Platinum Asset Management has seen Iris increase its second pre-IPO target to 40 million Australian dollars ($31 million) from the initial 20 million Australian dollars set earlier in mid-February.

As reported by Financial Review back in December 2020, the Bitcoin miner secured $19.5 million in equity funding and $3.9 million in debt during its first pre-IPO funding round.

Firms like Regal Funds Management and Thorney led the equity funding round.

Meanwhile, Iris Energy is getting set to apply to the Australian Securities Exchange for an IPO in the summer. The Bitcoin miner reportedly has a $39 million target for the summer float with the proceeds of the IPO earmarked for the expansion of its BTC mining enterprise.

Indeed, Iris Energy has set its sights on upscaling its capacity by investing in 500 megawatts data centers spread across the United States, Canada and someTitle: Australian green energy Bitcoin mining firm doubles pre-IPO funding round
Sourced From: cointelegraph.com/news/australian-green-energy-bitcoin-mining-firm-doubles-pre-ipo-funding-round
Published Date: Wed, 03 Mar 2021 12:12:10 +0000