Australian Bitcoin-focused knowledge middle enterprise Iris Energy has doubled a fundraising spherical to A$40 million ($31 million) forward of a deliberate preliminary public providing.
Iris expanded the providing on Wednesday following a A$13 million dedication from Platinum Asset Management, in keeping with a letter to traders obtained by Bloomberg Information. The agency had initially set a A$20 million goal for its second pre-IPO fundraising. The corporate is planning its first-time share sale in the course of this 12 months.
Individually, the corporate advised traders that Jason Conroy, chief monetary officer of vitality utility Transgrid, was set to turn out to be Iris’ new chief govt officer. He will likely be joined by David Bartholomew, who would be the firm’s unbiased chair. The 2 beforehand labored collectively for near a decade at Australian fuel pipelines firm DUET Group.
Proceeds from the fundraising will likely be used to construct a 50 megawatt knowledge middle in British Columbia, Canada, including to an already-funded 30 megawatt mission.
An exterior consultant for the corporate declined to remark.