Bitari Files for $30M Nasdaq IPO to Fund Bitcoin Mining Expansion
Bitari Inc., a Texas-based Bitcoin mining infrastructure company, has filed for a $30 million initial public offering (IPO) on the Nasdaq stock exchange. The company plans to offer 4.28 million shares at $7 each, with the net proceeds primarily used for acquisitions, expansion, new infrastructure, research and development, and general purposes.
Bitari operates a 20 MW site in Wheeler, Texas, with additional facilities in development and contracted sites. The company is also partnering on a large AI data center project at its Wheeler site, which requires a $15 million security deposit. This signals a strategic expansion beyond traditional Bitcoin mining for the company.
The IPO will give Bitari majority control post-IPO to AI Power X Inc., according to the filing.