China will ban all crypto activities in 2021 and present the industry with major challenges. Bitcoin miners now seem to be doing better again, as many are accumulating investments or planning an IPO.
It wasn’t that long ago that China banned all Bitcoin mining activities. While the industry initially trembled at the associated consequences, the mining industry now seems to be doing better. There is currently an “IPO boom” and a flood of cash for BTC mining companies. The Australian mining company Iris Energy announced on August 17th that it was going public. To do this, the company filled out the necessary S-1 form and submitted its documents to the US Securities and Exchange Commission Securities and Exchange Commission (SEC) a. The company expects its shares to be tradable in Q4 2021. So the company up Twitter.
Furthermore, Iris Energy seems to be aware of the global criticism of Bitcoin energy consumption and has positioned itself appropriately. The mining company itself adorns its corporate services with the fact that their BTC mining data centers use sustainable energy resources. But the Australian company is not only planning to expand on the stock exchange. The company would also like to position itself more strongly worldwide. May 31, 2021 announced Iris Energy for raising US $ 50 million to purchase additional mining equipment and increase existing capacity. The company has set itself great goals for itself:
Iris Energy has secured additional locations for data center development and new computer hardware, which with additional funding will increase capacity to 180 MW (4.5 EH / s) at multiple locations in 2022, making Iris Energy one of the largest Bitcoin-mining subHe takes the world will do.
More Bitcoin mining companies are planning to go public
Meanwhile, more and more BTC mining companies around the world have planned to go public. For example, the “Digital Asset Mining” company Core Scientific, which announced on Twitter on July 21 that it will soon be a company tradable on the NASDAQ through a merger:
Stronghold Digital Mining is another company that announced its IPO. The company is planning a $ 100 million IPO and only filed the necessary documents with the SEC on July 27, 2021. The energy for operating the mining facilities is to be generated primarily by burning waste coal.
Due to the ban on crypto activities in China, many miners had to look for new locations and opportunities to continue their business activities. It will be exciting to see to what extent the “Bitcoin mining IPO boom” will continue or ebb.