Bitcoin miner CipherInc is looking to raise up to $250 million in stock in an at-the-market (ATM) offering. egreechee reports
Cipher Mining is looking to sell up to $250 million in stock from time to time in what is known as an"at-the-market” offering.
Bitcoin miners have been struggling this year as the price of bitcoin has dropped by about 60% and energy prices soar across the world. Despite these headwinds, some of them are back on the market to raise capital needed to fund their development. Earlier on Friday, miner Iris Energy Investment bank H.C. Wainwright will act as a sales agent for Cipher's stock, according to aCipher Mining's stock was up by about 2% in Friday's trading on the Nasdaq.
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