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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).
Iris Energy, a bitcoin miner and data center provider, has doubled its fundraising target ahead of an expected initial public offering (IPO).
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- 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
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
