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Texas bitcoin mining infrastructure firm Bitari files for Nasdaq IPO
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News EditorBitari Inc., a bitcoin mining infrastructure company based in Texas, filed an S-1 registration statement with the U.S. SEC on Aug. 21, seeking to raise $30 million through an initial public offering on Nasdaq Global Market under the ticker BIAI. The company plans to sell 4,285,715 common shares at $7 each, for expected gross proceeds of about $30 million and net proceeds of roughly $27 million after underwriting and related expenses. Bitari says it builds and operates the physical infrastructure used for bitcoin mining. Its main operating site is a 20-megawatt mine in Wheeler, Texas. A second 20-megawatt facility is under construction in Dumas, Texas, and the company also has a contracted 20-megawatt site in Marion, Indiana.
Bitari Inc., a Texas-based bitcoin mining infrastructure company, filed an S-1 registration statement with the U.S. Securities and Exchange Commission on Aug. 21, seeking an initial public offering on Nasdaq Global Market under the ticker BIAI.
The company said it plans to issue 4,285,715 common shares at $7 per share. That would generate about $30 million in gross proceeds, with net proceeds estimated at roughly $27 million after underwriting and related expenses.
Bitari builds and operates the physical infrastructure used for bitcoin mining. Its main asset is a 20-megawatt operating mine in Wheeler, Texas.
A second 20-megawatt mine is under construction in Dumas, Texas. Bitari also has a contracted 20-megawatt site in Marion, Indiana.
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