Green Bitcoin miner, Iris Energy has submitted a draft with the U.S. SEC seeking a direct listing on NASDAQ.
Iris Energy is an Australian-based Bitcoin mining firm that “owns and operates real assets, including data center infrastructure powered by renewable energy.”
In a press release on Wednesday, the company “confidentially submitted a draft Registration Statement on Form F-1 with the United States Securities and Exchange Commission relating to a proposed direct listing of its ordinary shares on the NASDAQ.”
Given the SEC review and market and other conditions, the firm is expected to go public in the fourth quarter.
Due to the growing demand for crypto, many cryptocurrency-related companies are going public recently. One such is the largest US-based crypto exchange, Coinbase which also filed for a direct listing with NASDAQ instead of an IPO.
Pennsylvania-based Stronghold Digital Mining, on the other hand, filed for an initial public offering last month seeking to raise $100 million to expand its mining fleet. The firm has recently acquired a second power plant to double its capacity to up to 165 MW.
Before going public the company has raised about $200 million in a funding round. Since then, other companies that presented plans to go public included Bakkt, eToro, Kraken, and even Binance hinted at something similar.