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B. Riley may purchase up to $100M stake in Bitcoin miner Iris Energy

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Australia-based crypto mining firm Iris Energy has signed a deal with B. Riley giving the capital market company the option to purchase up to 25 million of its shares.According to a Friday filing with the United States Securities and Exchange Commission, Iris Energy inked an agreement with B.

Riley Principal Capital II related to the “potential offer and sale” of up to 25 million of the Bitcoin (BTC) mining firm’s ordinary shares, worth $100 million.

The filing states B. Riley has a 24-month timeframe to complete the purchase starting “as soon as practicable” after the effective date of the registration statement.Because Iris Energy qualifies as a “foreign private issuer” under U.S.

securities laws, the firm said it intended to follow “most Nasdaq corporate governance listing standards” while also adhering to Australian law.

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