According to ChainCatcher, MinerMag reported that Iris Energy, an Australian crypto mining company, announced that it has raised $413.4 million through stock issuance since mid-May. The funds will be used to fully support the company's 2024 expansion plan after the Bitcoin halving event, aiming to achieve the 2024 growth plan (including a hash rate of 30 EH/s and a data center capacity of 510MW). The financing was completed through the company's market offering (ATM) plan between May 15 and June 28, with a total of 39.8 million shares sold.
Combined with previously raised funds, Iris Energy has raised a total of about $714 million in the first half of the year, including $257 million in equity financing in the first quarter and an additional $44.8 million between March 31 and May 15.
As of June 28, Iris Energy had $425.3 million in cash on hand, including the ATM proceeds that will be received in the first week of July. In addition, $223.2 million of equity financing capacity remains available under the ATM program. With the success of these financings, the total number of Iris Energy common shares outstanding increased by 20% from 146 million shares on May 12 to 186 million shares on June 28.
