Bitcoin Miner Coolbit Technologies Sets IPO Price Range at $4-$5 Per Share, Aiming to Raise Up to $23 Million

Deep News17:41

Bitcoin mining company Coolbit Technologies (CBAI.US) filed with the U.S. Securities and Exchange Commission (SEC) last Friday, announcing its plan to raise up to $23 million through an initial public offering (IPO). The company intends to issue 5 million shares, with 25% of these being secondary offerings, at a price range of $4 to $5 per share. Based on the midpoint of this price range, Coolbit Technologies would achieve a market valuation of approximately $135 million.

Coolbit Technologies operates its bitcoin mining business through subsidiaries in the United States and Canada. The company leases high-performance Bitmain mining machines from partners and deploys them at third-party hosting facilities, where the third party handles installation, configuration, and daily operations. Its revenue is generated by contributing computing power to mining pools, which then distribute bitcoin block rewards proportionally based on the company's contributed hash rate. Subsequently, the company sells bitcoin as needed to sustain its operations.

Founded in 2023 and headquartered in Richmond, Canada, Coolbit Technologies reported revenue of $20 million for the 12-month period ended September 30, 2025. The company plans to list on the Nasdaq under the ticker symbol CBAI. Coolbit Technologies had confidentially submitted its draft registration statement on August 29, 2025. Eddid Securities and Futures is acting as the sole book-running manager for the offering.

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The company intends to issue 5 million shares, with 25% of these being secondary offerings, at a price range of $4 to $5 per share. Based on the midpoint of this price range, Coolbit Technologies would achieve a market valuation of approximately $135 million.\nCoolbit Technologies operates its bitcoin mining business through subsidiaries in the United States and Canada. The company leases high-performance Bitmain mining machines from partners and deploys them at third-party hosting facilities, where the third party handles installation, configuration, and daily operations. Its revenue is generated by contributing computing power to mining pools, which then distribute bitcoin block rewards proportionally based on the company's contributed hash rate. Subsequently, the company sells bitcoin as needed to sustain its operations.\nFounded in 2023 and headquartered in Richmond, Canada, Coolbit Technologies reported revenue of $20 million for the 12-month period ended September 30, 2025. 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