Iris Energy mining company plans to enter an IPO and attract $ 100 million

The Australian Mining Company Iris Energy has sent a statement to the SEC for the initial placement of shares (IPO) in the form of F-1.

This type of application should be submitted by foreign issuers. According to the document, Iris Energy plans to list on the NASDAQ Stock Exchange under the Iren ticer and attract $ 100 million.

Builders for the IPO company are JP Morgan, Canaccord Genuity, Citigroup, Macquarie Capital and Cowen.

The company is focused on bitcoin production using green energy. Iris Energy controls the data center in Canada with a capacity of 30 MW – it feeds from renewable sources, including hydroelectric power plants.

“We have been mining bitcoins since 2019. We will eliminate all the coins obtained, so on September 30, 2021 there is no BTC on our balance, ”the avenue says.

Iris Energy plans to use pure IPO revenue to increase working capital, expand equipment and mining capacities.

In May, Iris Energy refused to enter the stock market through a deal with Spac, in which she intended to receive $ 300- $ 500 million. Instead, the leadership focused on attracting $ 200 million of venture capital.

Recall that in August Iris Energy filed a statement to the SEC for direct listing of shares on NASDAQ.