Iris Energy, a bitcoin miner and data center provider, has doubled its fundraising target ahead of an expected initial public offering (IPO).
- The Australian company, which emphasizes its use of renewable energy, now aims to raise investment of AUS$40 million (US$31 million), up from AUS$20 million (US$15.5 million), according to a Bloomberg report Wednesday.
- In a letter to investors seen by the publication, Iris said it has received an AUS$13 million (US$10 million) commitment from Platinum Asset Management.
- Iris Energy has also informed investors about changes in management, with Jason Conroy, currently chief financial officer of energy utility Transgrid, to become the firm’s new CEO.
Disclosure
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
