Bitari Seeks $30M Nasdaq Listing to Fuel Bitcoin Mining Expansion

Bitari Inc., a Texas-based Bitcoin mining infrastructure company, has filed an S-1 registration statement with the SEC to raise $30 million through an initial public offering on the Nasdaq Global Market under the ticker BIAI.

The company plans to offer 4,285,715 shares of common stock priced at $7.00 each, with gross proceeds expected to hit approximately $30 million and net proceeds landing around $27 million after underwriting and related expenses.

Bitari builds and operates the physical infrastructure that makes Bitcoin mining possible, with a current footprint centered on a 20 MW operational site in Wheeler, Texas. A second 20 MW facility is under development in Dumas, Texas, and the company holds a contracted 20 MW site in Marion, Indiana.

The net proceeds from the IPO will be allocated as follows: 40% toward acquisitions, 30% toward expansion and branding, 15% toward new infrastructure, 10% toward research and development, and 5% for general corporate purposes.