Iris Energy applies for direct listing on Nasdaq

The Australian mining company Iris Energy has filed with the SEC for a direct listing of its shares on the Nasdaq stock exchange.

Iris Energy confidentially submits registration statement
for proposed NASDAQ direct listing. pic.twitter.com/fInNjLbisv

— Iris Energy (@irisenergyco) August 17, 2021

The company expects to go public in the fourth quarter of 2021.

In May Iris Energy scrapped an attempt to go public via a SPAC deal that would have raised $300-$500 million. Instead, management focused on raising $200 million in venture capital, having raised a quarter of the target amount to date.

Iris Energy is focused on bitcoin mining using green energy. The company operates a 50 MW data centre in Canada powered by renewable energy, including hydroelectric power.

By 2022, the company aims to increase the aggregate hash rate of its sites to 4.5 EH/s.

As previously reported, the blockchain-hosting provider Core Scientific will go public in the fourth quarter via a SPAC merger valued at $4.3 billion.

In late July, the mining company Stronghold Digital Mining, focused on using green energy announced IPO on Nasdaq.

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