Share this article
Bitcoin Miner Iris Energy Upsizes Its IPO, Valuing Company at $1.5B
The Australian bitcoin miner expects to start trading on the Nasdaq Nov. 19 under the ticker symbol IREN.
By Aoyon Ashraf
Updated May 11, 2023, 7:09 p.m. Published Nov 17, 2021, 1:54 p.m.
Make us preferred on Google
Iris Energy, a Sydney-based company that mines bitcoin primarily with renewable energy, raised its initial public offering (IPO) pricing to $28 per share from the previous expected range of $25 to $27.
- The miner said it plans to sell 8.3 million shares, raising about $232 million through its IPO offering, according to a statement. It expects to start trading on the Nasdaq on Nov. 19 under the ticker symbol IREN.
- The company will have about 55 million shares outstanding, valuing the company at around $1.5 billion, according to its U.S. Securities and Exchange Commission filing.
- Iris will use the proceeds from the offering to fund its growth initiatives, including hardware purchases and acquisition and development of data center sites and facilities, as well as for working capital and general corporate purposes.
- The company said it has been mining bitcoin since 2019 and has sold all the bitcoin it mined, bucking the trend of most miners holding onto their coins.
Read more: Crypto Miners Hoarding Bitcoins as Price Surges Above $55K
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
Higit pang Para sa Iyo
Coinbase CEO says Big banks now view crypto as an ‘existential’ threat to their business
Brian Armstrong returns from World Economic Forum with message: traditional finance is taking crypto seriously
Ano ang dapat malaman:
- Coinbase CEO Brian Armstrong said a top executive at one of the world’s 10 largest banks told him crypto is now the bank’s “number one priority” and an “existential” issue.
- At Davos, Armstrong highlighted tokenization of assets and stablecoins as major themes, arguing they could broaden access to investments for billions while threatening to bypass traditional banks.
- He described the Trump administration as the most crypto-forward government globally, backing efforts like the CLARITY Act, and predicted that AI agents will increasingly use stablecoins for payments outside conventional banking rails.
Top Stories
