Sustainable Bitcoin Miner Iris Energy to Raise $200M before Official Nasdaq Listing

Sustainable Bitcoin Miner Iris Energy to Raise $200M before Official Nasdaq Listing


According to Bloomberg, Iris has been meeting potential investors and seeking an advisor for the concerned matter.

Iris Energy is a Bitcoin miner firm who have been employing sources of renewable energy to mine cryptocurrencies. Iris now intends to list itself on Nasdaq and is looking for an advisor as well as promising investors to help the company raise $200M before they go live with the Nasdaq listing.

Iris Energy Plans to Raise $200m in a Funding Round

Iris Energy is a Bitcoin miner firm based in Sydney, the company has been meeting prospective investors to help the firm raise funds and is also looking for an advisor to assist in financial matters of the company. Iris energy is one of the profitable BTC miners who have been making use of renewable energy resources to mine cryptocurrencies. According to Bloomberg, the firm is all set to raise $200M before their Nasdaq listing.

The firm employs sustainable ways to mine BTC and has been one of the few firms to mine a large number of crypto transactions without posing additional harm to the environment via increased carbon emission or depleting the earth’s energy resources.

Iris usually works on 9 megawatts of energy to mine BTC and plans to expand its energy consumption by a whopping 30%. The firm had previously raised $82 million to acquire computing software and additional data center sites to mine Bitcoin. Another set of $50 million was raised by the company to buy Bitcoin servers to amplify its work operations in Canada.

It is anticipated that the money raised through the funding rounds will be utilized by the firm to help make preparations for their Nasdaq Listing, however, the plans are yet to be finalized according to Bloomberg reports.

The company in March is said to have raised $31Million from $15.5 million ahead of their first public listing. As per Bloomberg, the company had raised approximately $81.3 Million in that particular fundraiser.

Now Iris is on its way to list itself on Nasdaq and has been pursuing investors for their stake investment and is aiming to raise an average amount of $200 m before their listing. The company was contacted via email to make further comments to the press, but they have declined the offer.

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Juhi Mirza is an archaeology major who is obsessive about blockchain/Crypto technology and deems it to be the foundational philosophy of the future. Her dogged ability to research and crystallise technical facts/multiple perspectives into rivetting stories makes her an accessible finance writer. She tends to her archaeological pursuits and loves unearthing the past over the weekends.



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