According to Odaily, LandBridge is reportedly seeking to raise $319 million through an initial public offering (IPO) in the United States, targeting a valuation of $1.6 billion. The company is said to be exploring opportunities in Bitcoin mining, as stated by Matthew Sigel, the head of digital assets at VanEck, citing an informed source.
LandBridge owns over 220,000 acres of land in the oil-rich Permian Basin. It generates revenue by leasing land and selling extracted resources, including oil and natural gas. Despite the company's keen interest in commodities and the energy sector, Sigel pointed out that they also see Bitcoin mining as a growth vehicle that could expand their sources of income. The informed source mentioned that existing infrastructure, such as roads and power lines, are selling points for cryptocurrency mining facilities and data centers.