Owner of Bitstream Mining to List on Nasdaq

The latest crypto miner to spell nationalist is U.S.-based Bitstream Mining, arsenic its owner, Agora Digital Holdings, plans an archetypal nationalist offering connected the Nasdaq, according to a Wednesday IPO prospectus filed with the Securities and Exchange Commission.

• Agora volition database nether the ticker DEFY, with a pro forma full stockholders' equity of $53 cardinal but has not announced the stock price, the prospectus said. Agora booked a $3.3 cardinal nonaccomplishment the 9 months ended Dec. 31, 2021, according to the prospectus. The listing and ticker is inactive pending regulatory approval.

• Agora has invested $7.2 cardinal to acceptable up operations for Bitstream, including buying 5,000 utilized Canaan AvalonMiner 841 mining rigs for $1.35 million, according to today's filing. About $2.4 cardinal of that was a outgo to a powerfulness absorption firm, including a downpayment to an vigor supplier, said a September 2021 SEC filing. The steadfast has agreed to walk different $6 cardinal to bargain energy, bid miners, and make mining infrastructure, the prospectus said.

• Starting November 2021, 550 of the AvalonMiners are successful operation, the prospectus said. The steadfast expects to deploy Bitmain s19 Pro miners, presently 1 of the champion connected the market, done a third-party hosting work provider, Elite Mining, by the extremity of of Q2 2022, it said successful the prospectus.

• Ecoark Holdings (ZEST), which owns 90.1% of Agora shares, volition clasp connected to 74% of Agora's equity aft the listing, said the prospectus. Approximately 3 months pursuing this nationalist offering, Ecoark is expected to rotation disconnected 80% of its Agora banal it holds, 33,336,997 shares, to Ecoark’s security-holders arsenic a banal dividend. After the banal dividend, 77% of Agora banal volition beryllium held by nationalist shareholders, and the steadfast volition enactment independently from Ecoark, according to the IPO prospectus.

• Bitstream has signed a missive of intent with a powerfulness broker to get 12 megawatts (MW) of energy successful westbound Texas, and is expecting to bargain different 48MW successful the adjacent six to 12 months, according to the IPO prospectus. The steadfast has besides signed a 30MW missive of intent for a 2nd tract astatine an undisclosed location, and is negotiating definitive agreements for energy, the prospectus said.

• Under its September 2021 hosting agreement, Elite Mining volition proviso the Bitmain s19 Pro miners, big the information centers, and run the machines. Bitstream volition regenerate the Bitmain s19 Pros with its ain arsenic soon arsenic it tin money them, including perchance buying Elite Mining's rigs, said the agreement. Through the agreement, Bitstream would instrumentality vantage of 6MW of vigor worthy during a beta investigating phase, acceptable to past until mid-January 2022, said the September filing.