Bitcoin Miner Coolbit Technologies Sets IPO Price Range at $4-$5, Aiming for $23 Million Raise

Stock News05-25 16:39

Bitcoin mining company Coolbit Technologies (CBAI.US) filed a registration statement with the U.S. Securities and Exchange Commission (SEC) last Friday, outlining 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 a secondary offering, 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, which are responsible for the installation, configuration, and day-to-day operations. Its revenue is generated by contributing computing power to mining pools; these pools then distribute bitcoin block rewards proportionally based on the company's contributed hash rate. Subsequently, the company sells bitcoin as needed to fund its operations.

Founded in 2023 and headquartered in Richmond, Canada, Coolbit Technologies reported revenue of $20 million for the 12-month period ending September 30, 2025. The company plans to list on the Nasdaq exchange under the ticker symbol CBAI. It 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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