The number of cryptocurrency-related companies aiming to go public continues to increase, with the latest example being Iris Energy Pty. The firm, focused on green Bitcoin mining, has filed with US regulators for a direct listing on Nasdaq this year.
- Based in Sydney, Australia, Iris Energy is a Bitcoin mining firm that “owns and operates real assets, including data center infrastructure, powered by renewable energy.”
- According to a press release dated August 18th, the company has “confidentially” filed the US Securities and Exchange Commission to make a debut on Nasdaq.
- By submitting a draft Registration Statement on Form F-1 with the Commission, the firm has outlined its plans to have its shares listed on the popular exchange by the fourth quarter of 2021.
- As with all listings, Iris Energy will be “subject to SEC review as and market and other conditions.”
- Interestingly, the company has chosen to go live on Nasdaq through a direct listing instead of the more traditional way of an initial public offering (IPO).
- The direct listing approach – also known as direct placement or direct public offering – eliminates the necessity of intermediaries (underwriters – typically banks). In this case, the firm sells outstanding shares directly to the public.
- With IPO, the intermediary charges a commission for facilitating the process and underwriting the newly-created shares. It’s typically regarded as the safer option.
- Previously, the largest US-based cryptocurrency exchange, Coinbase, also chose to go public on Nasdaq through a direct listing.
- Back in April this year, the firm’s share traded at around $400, and the total valuation exceeded $100 billion.
- Since then, other companies that presented plans to go public included Bakkt, eToro, Kraken, and even Binance hinted at something similar.
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.
- &
- AI
- Aiming
- All
- April
- around
- Assets
- AUGUST
- Australia
- Bakkt
- Banks
- Billion
- binance
- Bitcoin
- Bitcoin mining
- border
- BTC
- charges
- code
- coinbase
- commission
- Companies
- company
- content
- continues
- cryptocurrency
- Cryptocurrency Exchange
- data
- energy
- etoro
- exchange
- Fees
- Firm
- form
- Free
- Futures
- Green
- HTTPS
- Including
- Increase
- Infrastructure
- IPO
- Kraken
- latest
- Limited
- listing
- Listings
- Market
- Mining
- Nasdaq
- offer
- offering
- Option
- Other
- Popular
- public
- Reading
- Registration
- Regulators
- renewable energy
- review
- SEC
- Securities
- Securities and Exchange Commission
- Share
- Shares
- Sponsored
- Statement
- sydney
- Trading
- us
- USDT
- Valuation
- year
More from CryptoPotato
Montenegro Court Approves Do Kwon’s Extradition to the United States: Report
Source Node: 2490131
Time Stamp: Feb 21, 2024
LongHash Ventures Launches a $100 Million Web 3 Investment Fund
Source Node: 1616821
Time Stamp: Aug 10, 2022
Bitcoin Stagnant Amid $40K: Solana Soars 14% (Market Watch)
Source Node: 1001512
Time Stamp: Jul 30, 2021
El Salvador President Lays out Plans Ahead of Bitcoin Law Implementation
Source Node: 1042048
Time Stamp: Aug 24, 2021
Crypto Price Analysis September-30: Ethereum, Ripple, Cardano, Binance Coin, and Solana
Source Node: 1710455
Time Stamp: Sep 30, 2022
Ethereum Classic Soars 55% Weekly, Bitcoin Stalls at $23K (Weekend Watch)
Source Node: 1589666
Time Stamp: Jul 23, 2022
XRP Removed From Important List: Pro-Ripple Lawyer Comments
Source Node: 2278948
Time Stamp: Sep 19, 2023
FCA Sounds Alarm on Crypto Promotions: 450 Alerts Issued in 3 Months
Source Node: 2486571
Time Stamp: Feb 18, 2024
Virtue Poker to Become Multi-Chain Compatible, Launch on BSC Imminent
Source Node: 924807
Time Stamp: Jun 16, 2021
StormX Reveals All-Star Lineup for Its First Invitational Poker Tournament
Source Node: 1619186
Time Stamp: Mar 1, 2022