Iris Energy, a bitcoin mining company based in Australia, has submitted a draft proposal to Nasdaq seeking a direct listing.
The company announced on Wednesday that it has submitted a confidential draft F-1 form to the US Securities and Exchange Commission and anticipates a direct listing in Q4 2021.
The plan comes after Bloomberg reported that Iris Energy had considered a SPAC deal to go public but had changed its mind and was looking to raise up to $200 million before filing for a direct listing.
According to Iris Energy’s website, it currently has a mining capacity of 9 megawatts (MW) in British Columbia, Canada, with plans to expand to 30 MW this year. In May, Iris Energy raised $50 million to fund its equipment expansion.
It also joins a growing list of private bitcoin mining companies seeking to go public in the United States.
Greenidge, a New York-based bitcoin miner, has previously filed for a merger with Nasdaq-listed Support.com. Greenidge said at the time that it had set aside 19 MW of its 106 MW proprietary capacity for bitcoin mining.
Core Scientific, a self-mining and hosting company based in the United States, agreed to be acquired by the Nasdaq-listed Power & Digital Infrastructure Acquisition Corp. last month.