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Finance

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).

By Tanzeel Akhtar
AccessTimeIconMar 3, 2021 at 3:20 p.m. UTC
Updated May 9, 2023 at 3:16 a.m. UTC
Sydney, Australia
Sydney, Australia

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.

Read more: Bitfarms Plans Massive Bitcoin Mining Expansion With Purchase of 48,000 MicroBT Devices

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