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

As reported by CryptoBriefing, Texas-based bitcoin mining infrastructure company Bitari Inc. filed an S-1 registration statement with the SEC on August 21, 2026, proposing to issue 4.2857 million common shares on Nasdaq (ticker: BIAI) at $7 per share, aiming to raise approximately $30 million in gross proceeds and around $27 million in net proceeds after deducting fees. Regarding the use of proceeds, 40% will be allocated to acquisitions, 30% to expansion and brand building, 15% to new infrastructure construction, 10% to research and development, and 5% to general corporate purposes. Currently, Bitari operates a 20MW mining facility in Wheeler, Texas, and is developing two additional 20MW facilities in Dumas, Texas, and Marion, Indiana. Following the IPO, AI Power X Inc. will hold approximately 85.87% of the voting power, leaving public shareholders with limited governance rights.