Australian Bitcoin Mining Firm Iris Energy Doubles Pre-IPO Fundraising Target

The Sydney-based data center provider now aims to raise investment of AUS$40 million (US$31 million).

AccessTimeIconMar 3, 2021 at 3:20 p.m. UTC
Updated May 9, 2023 at 3:16 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.