Iren IPO : Iris Energy Ltd (IREN) Stock Price, Predictions, Overview, Stats
Next week, Iris Energy Limited (NASDAQ: IREN) plans to begin trading on the New York Stock Exchange. As a Bitcoin mining company, Iris Energy Limited owns and operates data centres for the mining of Bitcoin that are predominantly powered by renewable energy. On the Robinhood IPO access platform and other brokers, the IPO is being made available.
The initial public offering price is expected to be between $25.00 and $27.00.
| Share Price | $25.00-27.00 |
|---|---|
| Employees | 39 |
| Status | Filed |
| Shares Offered | 8269231 |
| Offer amount | $256,759,605.00 |
| Shares Over Alloted | 1,240,384 |
| Total Offering Expense | $4,000,000.00 |
|---|---|
| Shareholder Shares Offered | — |
| Shares Outstanding | 55,454,842 |
Iris Energy, an Australian Bitcoin miner, may be of interest to investors. As a result of China’s withdrawal of funding from the Bitcoin mining industry, markets like Australia appear to be attractive at this time. The vast majority of the capital in this area is still concentrated in the United States. As a result, those American investors who are looking for ways to diversify their interests outside of the country may turn to Australian mining companies.
As one of the largest crypto mining IPOs ever, Iris Energy plans to raise up to $223 million. At the upper end of the spectrum, this deal would suggest a valuation of approximately $1.5 billion.
This IPO is going to be a big deal. Investors, on the other hand, are likely to keep a watch on IREN stock demand over time. For the time being, this is a stock that investors will likely keep an eye on till the end of this month.
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