Tag: IPO

The First Crypto Miner ETF Unveils in Australia

by Blockchain News

Australian Bitcoin miner Iris Energy applies for an initial public offering (IPO) on the Nasdaq. The stock code is “IREN”. Reportedly, $100 million has been raised.

In this transaction, JPMorgan Chase, Canaccord Genuity, Citigroup, Macquarie Capital, and Cowen jointly acted as “book-runners”. It is expected that the stock will officially begin to be traded to the public later this year.

Cryptocurrency mining machine providers from Australia have begun to move towards the world, seeking more investors’ attention.

A local exchange in Australia also lists a new crypto-miner ETF for the first time on Thursday, aiming to track well-known miners and infrastructure providers worldwide.

According to Bloomberg News, the crypto miner ETF is called Cosmos Global Digital Miners Access ETF (stock code: DIGA). Its constituent stocks include Marathon Digital Holdings Inc., Riot Blockchain Inc., Hive Blockchain Technologies Ltd., and Hut 8 Mining Corp. are waiting for the company.

The investment in the Cosmos Global Digital Miners Access ETF will begin trading on the Chi-X Australia exchange. Investors who invest in this ETF will not directly hold cryptocurrencies.

More and more crypto miners are seeking more efficient development in the global digital asset product boom.

As reported by Blockchain.News on October 26, Missouri-based energy generation company Ameren Corp unveiled its secret Bitcoin mining operations near the Sioux Energy Center in the state.

Image source: Shutterstock

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Bitcoin Miner Stronghold Upsizes IPO Price To $19 Per Share

by Bitcoin Magazine

  • Stronghold has upsized its IPO to $19 per share, with plans to raise $127 million.

  • The company had previously announced an IPO price of between $16 and $18 per share, which would allow it to raise around $100 million.

  • Stronghold’s common stock shares are expected to begin trading today under the ticker symbol $SDIG.

Bitcoin miner Stronghold Digital has upsized its initial public offering (IPO) price to $19 per share, allowing it to raise $127 million, the company said in an announcement. The 6,687,305 shares of Stronghold’s Class A common stock are expected to begin trading on the Nasdaq today under the ticker symbol “SDIG.”

The miner had announced its IPO on October 13, at which time it expected each share to fall between a $16 and $18 IPO price. The new upsized share price might allow Stronghold to capture $114.8 million of net proceeds from the offering.

Stronghold also granted underwriters a 30-day overallotment option to purchase up to an additional 1,003,095 shares of its Class A common stock at the IPO price, less underwriting discounts, and commissions. If the underwriters exercise their option to purchase additional shares in full, Stronghold could receive around $132.5 million of net proceeds from the offering in total.

“B. Riley Securities and Cowen are acting as joint book-running managers, Tudor, Pickering, Holt & Co. is serving as lead manager, and D.A. Davidson & Co., Compass Point and Northland Capital Markets are acting as co-managers for the proposed offering,” per the announcement.

Stronghold has sought to restore the usability of geographical areas damaged by waste coal by converting it into power and mining bitcoin with its first power generation plant in Pennsylvania. In August, Stronghold acquired a second power plant, seeking to double the miner’s capacity.

The bitcoin miner plans to employ the proceeds of its IPO for general corporate purposes, including for the acquisition of miners and power generating assets.

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Mining Giant Bitfury Confirms Plans for an IPO

by Cryptobriefing

Key Takeaways

  • Bitfury is planning to launch an IPO in the near future, according to comments made by CEO Valery Vavilov.

  • The company has not announced a date for an IPO, nor has it revealed the exchange that the sale will take place on.

  • The sale will likely be one of the largest initial public offerings from a European cryptocurrency company.


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The Bitcoin mining giant Bitfury has confirmed that it plans to carry out an initial public offering (IPO) in the near future.

Bitfury IPO Is On the Way

Bitfury CEO Valery Vavilov confirmed its plans to crypto news site Cointelegraph on Oct. 18, stating that the firm “will be considering an IPO as part of its broader expansion and growth plans.”

The company has not yet announced a date for its IPO, nor has it stated which exchange it will launch the IPO on.


U.K. news outlet The Telegraph previously reported that Bitfury would work with the consulting firm Deloitte in preparation for an IPO. At that time, the IPO had not been confirmed by Bitfury itself.

Bitfury’s offices are based in the Netherlands, while the company is legally based in the U.K. The offering will likely be the largest IPO from a European cryptocurrency company to date.

Bitfury is currently valued between $500 million to $1 billion.

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Mining Companies Embrace IPOs

Bitfury is one of many Bitcoin mining firms that have gone public. Last week, Stronghold Digital Blockchain launched its IPO on Nasdaq. In September, Argo Blockchain ran its own sale via Nasdaq. Other crypto mining companies including Riot, HIVE, Marathon, and Canaan have also carried out IPOs in recent years.

Bitmain and MicroBT are also planning to carry out their own IPOs. However, neither firm has finalized those plans.

IPOs are likely popular among mining companies due to the fact that they work primarily with hardware rather than cryptocurrency itself. As such, they do not face the same regulations as exchanges, brokerages, and other companies that deal in crypto.

Disclaimer: At the time of writing, this author held less than $75 of Bitcoin, Ethereum, and altcoins.

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Robinhood IPOs Amid Uniswap Partnership Rumors

Shares of the stock and crypto-trading app Robinhood will begin trading today, with the $38 starting price valuing the company at $31.7 billion.  Robinhood Goes Public After many delays, Robinhood…

Canaan Creative Raises $90 Million in IPO, Bringing ASICs To NASDAQ

Canaan Creative, a major mining equipment manufacturer, has launched an Initial Public Offering. The company is best known for its AvalonMiner line of ASIC devices, which are designed for use…

Coinbase Hits $103B Valuation in Landmark Public Listing

Coinbase makes history as the first cryptocurrency company to go public.  Coinbase Goes Public in First for Crypto  Coinbase is now live on NASDAQ.  COIN shares were trading at $381…

What is Rarible: A DAO for NFTs

What was once dismissed as a silly and expensive sector, NFTs give creators access to global markets in a way that’s never been possible before, and it’s all thanks to blockchain.Those familiar…



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Bitfury CEO confirms IPO considerations are part of expansion plans

by Cointelegraph

Bitfury, one of the world’s largest companies in the blockchain industry, is mulling a potential initial public offering, or IPO, as part of the company’s global growth plans, the company’s CEO confirmed to Cointelegraph.

“As Bitfury and its portfolio of companies continue their global expansion in the digital assets space, Bitfury will be considering an IPO as part of its broader expansion and growth plans,” Bitfury co-founder and CEO Valery Vavilov said.

According to the executive, Bitfury has not yet determined when and on what exchange the company is willing to proceed with an IPO. The company’s last funding round took place in 2018, with Bitfury raising $80 million at a $1 billion valuation.

Bitfury’s investors include European venture capital fund Korelya Capital, South Korean internet giant Naver Group, Asian institutions Macquarie Capital and Dentsu Japan as well as Michael Novogratz’s crypto investment company Galaxy Digital.

British news agency The Telegraph originally reported on Bitfury’s potential IPO plans on Oct. 10, citing anonymous sources claiming that Bitfury tapped Big Four accounting firm Deloitte to review its readiness for going public. The publication noted that Bitfury operates its main headquarters in the Netherlands even though it is legally based in the United Kingdom. Bitfury did not immediately comment on its legal headquarters to Cointelegraph.

Founded back in 2011, Bitfury is a major company in the industry, operating a wide number of services like crypto mining hardware design, software and semiconductor chips’ manufacturing as well as running mobile data centers. The company’s United States-based Bitcoin mining subsidiary, Cipher Mining, was valued at over $2 billion as of March 2021.

Related: Bitcoin miner Stronghold will list almost 6M shares in its $100M IPO

Apart from focusing on cryptocurrency mining, Bitfury has been actively working on cryptocurrency security, blockchain research and compliance, running platforms like Crystal Blockchain, LiquidStack and the most recent spin-off Axelera AI. The firm is also a software provider for some global applications through its Exonum private blockchain framework, which was

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Bitcoin miner Stronghold will list almost 6M shares in its $100M IPO

by Cointelegraph

U.S. Bitcoin mining company Stronghold Digital Mining will list almost six million shares in an initial public offering on the Nasdaq.

Stronghold plans to list 5,882,352 Class A common stock shares priced between $16 and $18 under the ticker “SDIG”. Taking the average proposed offering price puts the IPO at around $100 million.

The Kennerdell, Pennsylvania-based firm first filed with the Securities and Exchange Commission for a Nasdaq IPO in July. It will fund an almost 900% expansion in capacity in the coming year. The final prospectus has already been filed with the SEC, but it has yet to become effective.

Stronghold plans to become the first North American crypto mining company to go public through an actual IPO, according to Nasdaq. This is different from the now popular direct listing and Special Purpose Acquisition Companies (SPAC) avenues.

Stronghold intends to grant underwriters, or intermediaries that help the firm prepare for the offering, a 30-day option to purchase as many as 882,352 additional shares of its stock at the IPO price, in addition to the 5.8 million offering to the public.

B. Riley Securities, Inc. and Cowen will be acting as joint book-running managers, while Tudor, Pickering, Holt & Co. are serving as lead managers.

Stronghold describes itself as an “emerging growth company” which currently operates approximately 3,000 crypto miners with a hash rate capacity of around 185 petahash per second (PH/s) according to the prospectus.

It stated that it has entered into agreements with three suppliers to provide an additional 26,150 miners with a total hash rate capacity of over 2,500 PH/s. Delivery of 72% of them has been scheduled for delivery this year, with the remainder being delivered in 2022.

Stronghold intends to acquire even more hardware with the proceeds of the IPO as an additional 55,800 miners have been planned.

Related: US miner raises $105M to recycle waste coal into crypto

The firm owns and operates the “Scrubgrass Plant” in Pennsylvania which has been recognized as an alternative energy source since it converts waste coal into energy. The prospectus stated:

“We are committed to generating our energy and managing our assets sustainably, and we believe that we are one of the first vertically integrated crypto asset mining companies with a focus on environmentally beneficial operations.”

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Bitcoin Miner Stronghold Launches Nasdaq IPO

by Bitcoin Magazine

  • Bitcoin miner Stronghold announced today the launch of its initial public offering (IPO) of 5,882,352 Class A common stock shares.

  • The anticipated IPO price will be between $16 and $18 per share under an S-1 Form filed with the U.S. SEC, which has not yet become effective.

  • The company plans to list its shares on the Nasdaq Global Market under the ticker “SDIG.”

Stronghold Digital Assets has officially launched its Nasdaq IPO of 5,882,352 shares of Class A common stock at an anticipated price of between $16 and $18 per share, according to a release shared with Bitcoin Magazine.

The company has already filed the final prospectus with the Securities and Exchange Commission (SEC), but it has not yet become effective. The bitcoin miner first filed for a Nasdaq IPO in July.

Stronghold plans to list its Class A common stock on the Nasdaq Global Market under the ticker symbol “SDIG” and become the first North American company of its kind to go public through an actual IPO, different from the now popular direct listing and SPAC avenues.

“B. Riley Securities, Inc. and Cowen are acting as joint book-running managers, Tudor, Pickering, Holt & Co. is serving as lead manager, and D.A. Davidson & Co., Compass Point, and Northland Capital Markets are acting as co-managers for the proposed offering,” the release said.

In addition to the over five million shares, Stronghold intends to grant underwriters a 30-day option to purchase up to an additional 882,352 shares of the company’s Class A common stock at the IPO price, less the underwriting discount and commissions.

Stronghold has sought to restore the usability of geographical areas damaged by waste coal by converting it into power and mining bitcoin with its first power generation plant in Pennsylvania. In August, Stronghold acquired a second power plant, seeking to double the miner’s capacity.

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Circle reveals cooperation in ongoing SEC investigation

by Cointelegraph

Circle, the company behind the world’s second-largest stablecoin USD Coin, has been subpoenaed by the U.S. Securities and Exchange Commission (SEC).

According to an Oct. 4 regulatory filing from Circle, the SEC issued an “investigative subpoena” from its Enforcement Division in July.

Circle, which is behind the USDC stablecoin, stated that it would be fully cooperating with the regulator after receiving the request:

“In addition, in July 2021, we received an investigative subpoena from the SEC Enforcement Division requesting documents and information regarding certain of our holdings, customer programs, and operations. We are cooperating fully with their investigation.”

The Circle filing is part of its plan to go public via a special-purpose acquisition vehicle through a merger with Concord Acquisition Corp, with the firm valued at $4.5 billion.

CIrcle issued an identical statement in an August filing amid the SEC’s investigations into its operation of former subsidiary Poloniex. That same month, Circle agreed to pay the SEC more than $10 million in fines for charges against Poloniex for operating as an unregistered cryptocurrency exchange.

Related: Coinbase removes ‘backed by US dollars’ claim for USDC stablecoin

In late July, Circle released a disclosure report revealing that 61% of USDC’s reserves were held in cash and cash equivalents, the remainder in commercial paper accounts, treasuries, and bonds.

In early September, the SEC threatened to sue USDC-issuing Centre Consortium member Coinbase over a proposed lending product that would yield interest rates for select holders of USDC.