Applied Blockchain, a cryptocurrency miner, filed for an initial public offering on April 8, with plans to list on Nasdaq. The company joins a growing number of cryptocurrency businesses seeking to gain access to larger financial markets via a public listing.
The crypto miner said that it hoped to raise $60 million via the offering, with underwriters having the opportunity to acquire up to 15% of additional shares.
The company provides Bitcoin mining and data centre services, with a focus on using sustainable energy to power its operations. For that purpose, it just announced an arrangement with the sustainable energy provider Babcock & Wilcox.
Many companies have publicly listed their shares in the last two years as a result of the crypto boom. The most famous listing in recent history is cryptocurrency exchange Coinbase, which is listed on the Nasdaq with a market capitalization of $86 billion.
Meanwhile, Coinbase and many other cryptocurrency companies have decided to pursue other listing strategies rather than a traditional IPO. The cryptocurrency exchange has immediately registered its shares on the Nasdaq, following in the footsteps of Spotify and Palantir.
