Saturday, February 4, 2023
Crypto News
Advertisement
  • Home
  • Cryptocurrency
  • Bitcoin
  • Altcoin
  • Cardano
  • Ethereum
  • Blockchain
  • Ripple
  • Videos
No Result
View All Result
  • Home
  • Cryptocurrency
  • Bitcoin
  • Altcoin
  • Cardano
  • Ethereum
  • Blockchain
  • Ripple
  • Videos
No Result
View All Result
Crypto News
No Result
View All Result
Home Bitcoin

Another Bitcoin mining firm files for IPO in the US but it holds no BTC

by Crypto News
October 26, 2021
in Bitcoin
0
Another Bitcoin mining firm files for IPO in the US but it holds no BTC
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


Australia-headquartered Iris Vitality has develop into the most recent vitality company-turned Bitcoin mining agency looking for to listing within the U.S by way of an preliminary public providing (IPO).

The agency filed an F-1 kind to the Securities and Change Fee on Monday with a placeholder purpose of elevating $100 million and plans to listing on the Nasdaq inventory alternate underneath the ticker IREN.

Related articles

Bitcoin launched 13 years ago today⁠. 8 milestones from the past year

Bitcoin launched 13 years ago today⁠. 8 milestones from the past year

January 3, 2022
Why Bitcoin Price’s Tumble Is Good News for Coinbase Stock

Why Bitcoin Price’s Tumble Is Good News for Coinbase Stock

January 3, 2022

The IPO prospectus comes two months after the agency initially submitted a confidential submitting for a direct itemizing in August nevertheless it seems to have revised the plan since then.

Earlier this month, Pennsylvania-based Stronghold Digital — equally an vitality company-turned Bitcoin mining agency — raised $127 million in an IPO with the ultimate pricing exceeding the preliminary goal vary. 

Iris Vitality mentioned it had an working hash charge of about 0.7 exahashes per second as of October 1, accounting for about 0.4% of Bitcoin’s complete community hash charge. That is powered up by the 30-megawatts facility it acquired in British Columbia in early 2020.

No bitcoin holdings

However completely different from different publicly listed Bitcoin mining companies in North America, Iris Vitality doesn’t hoard its bitcoin, as an alternative liquidating its newly mined cash each day. 

“Now we have been mining Bitcoin since 2019. We liquidate all of the Bitcoin we now have mined and due to this fact would not have any Bitcoin held on our stability sheet as of September 30, 2021,” the agency mentioned within the prospectus.

Iris Vitality mentioned it plans to make use of the web proceeds from the IPO to extend its working capital and broaden its {hardware} and mining amenities.

Other than its first web site in Canada, it’s pursuing further amenities in British Columbia, Texas and Asia in its bid to have sufficient capability to host the mining {hardware} it has already ordered.

“As of September 30, 2021, we now have entered into binding {hardware} buy contracts with Bitmain … to accumulate the latest-generation miners, Antminer S19j and Antminer S19j Professional, with an combination nameplate hashrate capability of 14.5 EH/s and deliveries commencing in October 2021 and ending in September 2023, which is anticipated to extend our working and contracted nameplate hashrate capability to fifteen.2 EH/s,” the agency added.

Meaning the agency must have an working energy capability of about 530 megawatts by September 2023 for its total deliberate mining fleet. 

© 2021 The Block Crypto, Inc. All Rights Reserved. This text is offered for informational functions solely. It’s not supplied or supposed for use as authorized, tax, funding, monetary, or different recommendation.



Source link

Share76Tweet47

Related Posts

Bitcoin launched 13 years ago today⁠. 8 milestones from the past year

Bitcoin launched 13 years ago today⁠. 8 milestones from the past year

by Crypto News
January 3, 2022
0

13 years in the past at the moment, bitcoin formally launched after what's often known as the Genesis Block...

Why Bitcoin Price’s Tumble Is Good News for Coinbase Stock

Why Bitcoin Price’s Tumble Is Good News for Coinbase Stock

by Crypto News
January 3, 2022
0

Textual content dimension Bitcoin's latest tumble might need brought on a rise in buying and selling quantity for Coinbase....

Now there are 3 provinces in Argentina that tax bitcoin – CVBJ

Now there are 3 provinces in Argentina that tax bitcoin – CVBJ

by Crypto News
January 3, 2022
0

Key details: La Pampa will cost Gross Earnings to all industrial actions with digital currencies. As in different provinces,...

I bought Bitcoin from PayPal. Here’s what happened

I bought Bitcoin from PayPal. Here’s what happened

by Crypto News
January 3, 2022
0

There isn't a doubt that cryptocurrency has traction within the monetary world. As of the second I am penning...

Multisig Setup Saves Bitcoin Stack from Home Burglary

Proof Of Keys Day And Quantum Computing

by Crypto News
January 3, 2022
0

When Satoshi Nakamoto mined the genesis block 13 years in the past right now, giving rise to the Bitcoin...

Load More
  • Trending
  • Comments
  • Latest
6 Altcoins to Buy As Crypto Bull Market Gets Crazier: Banking Veteran

6 Altcoins to Buy As Crypto Bull Market Gets Crazier: Banking Veteran

November 7, 2021
Tesla To Accept Shiba Inu Coin and will hit $0.1 in 2021!!

Tesla To Accept Shiba Inu Coin and will hit $0.1 in 2021!!

November 1, 2021
Bitcoin Mining Noise Drives Neighbors Nuts—a Giant Dentist Drill That Won’t Stop

Bitcoin Mining Noise Drives Neighbors Nuts—a Giant Dentist Drill That Won’t Stop

November 12, 2021
Pro-Crypto Candidates Seek an Easier Way to Accept Bitcoin, Altcoins

Pro-Crypto Candidates Seek an Easier Way to Accept Bitcoin, Altcoins

October 22, 2021
5 Hotels Accepting Cryptocurrency as a Payment Method

5 Hotels Accepting Cryptocurrency as a Payment Method

0
Top cryptocurrency prices today: Bitcoin, Dogecoin, Ethereum gain up to 5%

Top cryptocurrency prices today: Bitcoin, Dogecoin, Ethereum gain up to 5%

0
Four Emerging Altcoins Soar 101% or More Within Seven Days As Crypto Markets Ignite

Four Emerging Altcoins Soar 101% or More Within Seven Days As Crypto Markets Ignite

0
ADA Price Prediction: Cardano Sits and Waits

ADA Price Prediction: Cardano Sits and Waits

0
best time to buy Ripple XRP – Price Prediction 2022

best time to buy Ripple XRP – Price Prediction 2022

February 4, 2023
Problemas na atualização do Ethereum?! 😱

Problemas na atualização do Ethereum?! 😱

February 4, 2023
Bitcoin set for a major move –  Altcoin action incoming FOLLOW OUR LIVE SHOWS

Bitcoin set for a major move – Altcoin action incoming FOLLOW OUR LIVE SHOWS

February 4, 2023
AO VIVO AGORA: Análise Fechamento criptomoedas Bitcoin hoje (BTC), Ethereum hoje (ETH) Cardano (ADA)

AO VIVO AGORA: Análise Fechamento criptomoedas Bitcoin hoje (BTC), Ethereum hoje (ETH) Cardano (ADA)

February 3, 2023

Recent News

best time to buy Ripple XRP – Price Prediction 2022

best time to buy Ripple XRP – Price Prediction 2022

February 4, 2023
Problemas na atualização do Ethereum?! 😱

Problemas na atualização do Ethereum?! 😱

February 4, 2023

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cardano
  • Cryptocurrency
  • Ethereum
  • Ripple
  • Videos

Bitcoin Currency Converter

Cryptocurrency Prices by Coinlib
  • Privacy & Policy
  • About Us
  • Contact Us

© 2021 Copyright Crypto News

No Result
View All Result
  • Home
  • Cryptocurrency
  • Bitcoin
  • Altcoin
  • Cardano
  • Ethereum
  • Blockchain
  • Ripple
  • Videos

© 2021 Copyright Crypto News