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      Bitari Inc. Files for $30 Million IPO on Nasdaq to Expand Bitcoin Mining Operations

      Bitari Inc., a Texas-based company specializing in Bitcoin mining infrastructure, has filed an S-1 registration statement with the SEC to raise $30 million through an initial public offering on the Nasdaq Global Market under the ticker BIAI. The company plans to offer 4,285,715 shares at a price of $7.00 each, with gross proceeds anticipated to reach approximately $30 million and net proceeds around $27 million after accounting for underwriting expenses.

      The funds raised from the IPO will be allocated strategically, with 40% designated for acquisitions, 30% for expansion and branding efforts, 15% for new infrastructure development, 10% for research and development, and 5% for general corporate purposes. Bitari currently operates a 20 MW site in Wheeler, Texas, and is developing another facility of the same capacity in Dumas, Texas, while holding a contracted site in Marion, Indiana.

      In addition to its mining operations, Bitari has announced a joint venture with Aleria Technology LLC to construct an AI data center at its Wheeler site, which could have an energy capacity of up to 1,300 MW. To advance this project, Bitari plans to make a $15 million security deposit by late August 2026, representing a significant portion of the expected net proceeds from the IPO. US Tiger Securities is acting as the underwriter for the offering, which is still pending Nasdaq listing approval.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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