Bitcoin Miner Iris Energy Aims to Raise $200M in Funding Before Nasdaq Listing: Report

The company has been meeting prospective investors and is working with an adviser on the round, Bloomberg reported.

By Tanzeel Akhtar

Jul 19, 2021 at 3:32 p.m. UTC

Updated Sep 14, 2021 at 1:27 p.m. UTC

Alex Thorn

Head of Firmwide Research

Galaxy

Hear Alex Thorn share his take on "Bitcoin and Inflation: It’s Complicated” at Consensus 2023.

Secure Your Seat

Alex Thorn

Head of Firmwide Research

Galaxy

Hear Alex Thorn share his take on "Bitcoin and Inflation: It’s Complicated” at Consensus 2023.

Secure Your Seat

Tanzeel Akhtar

Alex Thorn

Head of Firmwide Research

Galaxy

Hear Alex Thorn share his take on "Bitcoin and Inflation: It’s Complicated” at Consensus 2023.

Secure Your Seat

Alex Thorn

Head of Firmwide Research

Galaxy

Hear Alex Thorn share his take on "Bitcoin and Inflation: It’s Complicated” at Consensus 2023.

Secure Your Seat

Australian bitcoin mining firm Iris Energy is looking to raise $200 million in a new funding round before it seeks a direct listing on the Nasdaq, according to a Bloomberg report.

Iris Energy, which is based in Sydney and emphasizes its use of renewable energy, has been meeting prospective investors and is working with an adviser on the round, Bloomberg said, citing a person familiar with the matter.
The direct listing is expected to become effective in the fourth quarter of 2021.
The money raised will be used to help the firm prepare for its Nasdaq listing as soon as this year, Bloomberg said. Discussions are ongoing and the plans are not final, however, according to Bloomberg's source.
In March, it emerged that Iris was increasing from $15.5 million to $31 million the amount it was looking to raise ahead of its expected initial public offering. Bloomberg reports the company ultimately raised $81.3 million in that round.
Iris Energy had not responded to an emailed request for comment by press time.

UPDATE (August 18, 2021, 3:20 UTC): Updates information relating to direct listing timeline.

DISCLOSURE

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

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. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Tanzeel Akhtar

Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

Tanzeel Akhtar