Iris Energy, a bitcoin mining company, has filed to become public via a direct listing on Nasdaq.
Iris Energy, a bitcoin mining company situated in Australia, has presented a draft petition in the United States seeking a direct listing on Nasdaq. The firm announced Wednesday that it has filed a secret draft F-1 form with the United States Securities and Exchange Commission and anticipates a direct listing in Q4 2021.
The plan comes despite recent Bloomberg reports that Iris Energy considered a SPAC deal to go public but abandoned it in favor of raising up to $200 million before filing for a straight listing. According to Iris Energy’s website, the company currently operates a 9 megawatt (MW) mining facility in British Columbia, Canada, with plans to expand to 30 MW this year. Iris Energy raised $50 million in May to fund the expansion of its equipment.
Additionally, it joins a growing list of private bitcoin mining companies trying to go public in the United States. Greenidge’s parent company earlier filed for a merger with Nasdaq-listed Support.com. Greenidge stated at the time that it has dedicated 19 MW of its 106 MW of unique capacity to bitcoin mining.
Core Scientific, based in Texas and engaged in self-mining and hosting services, also agreed to be bought last month by Nasdaq-listed Power & Digital Infrastructure Acquisition Corp.
On the other hand, Pennsylvania-based Stronghold Digital Mining filed for an initial public offering last month in order to raise $100 million for the purpose of expanding its mining fleet. Recently, the company acquired a second power plant, doubling its capacity to 165 MW.
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