{"id":495543,"date":"2022-09-23T22:30:00","date_gmt":"2022-09-23T19:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/b-riley-may-purchase-up-to-100m-stake-in-bitcoin-miner-iris-energy\/"},"modified":"2022-09-23T22:30:00","modified_gmt":"2022-09-23T19:30:00","slug":"b-riley-may-purchase-up-to-100m-stake-in-bitcoin-miner-iris-energy","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/b-riley-may-purchase-up-to-100m-stake-in-bitcoin-miner-iris-energy\/","title":{"rendered":"# B. Riley may purchase up to $100M stake in Bitcoin miner Iris Energy"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a40724caf41a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a40724caf41a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/b-riley-may-purchase-up-to-100m-stake-in-bitcoin-miner-iris-energy\/#%E2%80%9D_B_Riley_may_purchase_up_to_100M_stake_in_Bitcoin_miner_Iris_Energy_%E2%80%9C\" >&#8221; B. Riley may purchase up to $100M stake in Bitcoin miner Iris Energy &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_B_Riley_may_purchase_up_to_100M_stake_in_Bitcoin_miner_Iris_Energy_%E2%80%9C\"><\/span>&#8221; B. Riley may purchase up to $100M stake in Bitcoin miner Iris Energy &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDkvNDkxMjE2NzItMzVhOC00Yjg3LWIzOTgtMTBmMzI5YjJjZTA4LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-6ebd806f>Australia-based crypto mining firm Iris Energy has signed a deal with B. Riley giving the capital market company the option to purchase up to 25 million of its shares.<\/p>\n<p>According to a Friday filing with the United States Securities and Exchange Commission, Iris Energy <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1878848\/000114036122034467\/ny20005141x1_f1.htm#tUOP\">inked<\/a> an agreement with B. Riley Principal Capital II related to the \u201cpotential offer and sale\u201d of up to 25 million of the Bitcoin (BTC) mining firm\u2019s ordinary shares, worth $100 million. The filing states B. Riley has a 24-month timeframe to complete the purchase starting \u201cas soon as practicable\u201d after the effective date of the registration statement.<\/p>\n<p>Because Iris Energy qualifies as a \u201cforeign private issuer\u201d under U.S. securities laws, the firm said it intended to follow \u201cmost Nasdaq corporate governance listing standards\u201d while also adhering to Australian law. The company already expected to issue 198,174 shares to B. Riley \u201cas consideration for its irrevocable commitment\u201d to purchase more shares.<\/p>\n<p>According to Iris Energy\u2019s filing, the company planned to use proceeds from the sale to fund growth initiatives including purchasing mining hardware and developing data centers:<\/p>\n<blockquote><p>\u201cAs of the date of this prospectus, we cannot specify with certainty all of the particular uses, and the respective amounts we may allocate to those uses, for any net proceeds we receive. Accordingly, we will have broad discretion in the way we use these proceeds.\u201d <\/p><\/blockquote>\n<p>The crypto mining company\u2019s shares were listed on Nasdaq in November 2021 following a $200-million funding round. B. Riley Securities, an affiliate of the capital market firm, also acted as a joint book-running manager with Cowen for Stronghold Digital Mining\u2019s plan to list roughly 6 million shares on the Nasdaq in an initial public offering in October 2021. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Maple Finance launches $300M lending pool for Bitcoin mining firms<\/em><\/strong><\/p>\n<p>Other mining firms based in North America seem to have experienced financial difficulties amid the market downturn. Core Scientific and Bitfarms sold some of their BTC holdings in July, and Compute North filed for Chapter 11 bankruptcy on Thursday. However, crypto mining firm CleanSpark inked a $33-million deal to purchase Mawson&#8217;s Bitcoin mining facility in September.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/b-riley-may-purchase-up-to-100m-stake-in-bitcoin-miner-iris-energy\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; B. Riley may purchase up to $100M stake in Bitcoin miner Iris Energy &#8220; Australia-based crypto mining firm Iris Energy has signed a deal with B. Riley giving the capital market company the option to purchase up to 25 million of its shares. According to a Friday filing with the United States Securities and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":495544,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDkvNDkxMjE2NzItMzVhOC00Yjg3LWIzOTgtMTBmMzI5YjJjZTA4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74989,75042,117],"class_list":["post-495543","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-mining","tag-mining","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/495543","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=495543"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/495543\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/495544"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=495543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=495543"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=495543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}