Bitcoin miner Coolbit Technologies (CBAI.US) sets IPO pricing at $4-5, aiming to raise up to $23 million.

Coolbit Technologies, a Bitcoin mining company, submitted documents to the U.S. Securities and Exchange Commission (SEC) last Friday, planning to raise up to $23 million through an initial public offering (IPO). The company plans to issue 5 million shares of stock (25% of which will be a secondary market offering) with an issuance price range of $4 to $5 per share. Based on the midpoint of the issuance price range, Coolbit Technologies' market capitalization will reach $135 million. Coolbit Technologies is a company that engages in Bitcoin mining through its subsidiaries in the United States and Canada. The company leases high-performance Bitmain mining machines from partners and deploys them in third-party hosting facilities, with third parties responsible for installation, configuration, and daily operation. Its revenue comes from contributing computing power to mining pools, which will distribute Bitcoin block rewards in proportion to the company's computing power contribution; thereafter, the company will sell Bitcoin as needed to maintain operations. Based in Richmond, Canada, the company was founded in 2023 and generated revenue of $20 million in the 12 months ending September 30, 2025. The company plans to list on the Nasdaq with the stock code CBAI. Coolbit Technologies submitted a confidential listing application on August 29, 2025. Eddid Securities and Futures is the sole underwriter for this transaction.