- Bitari Inc. filed Amendment No. 3 to its Form S-1 on October 14, 2026, laying out terms for a firm-commitment Nasdaq IPO of 4,285,715 shares at an expected $7.00 each, raising about $30 million
- The Texas-based company provides Bitcoin-mining hosting and operations and maintenance services at sites in Wheeler and Dumas, Texas, and Marion, Indiana, and plans to list under the ticker “BIAI”
- Non-binding cornerstone interest for the offering has come from Aleria Technology, at roughly $3 million, and Nano Labs, at roughly $1.5 million
Bitari Inc., a Bitcoin-mining hosting and operations and maintenance services provider, filed Amendment No. 3 to its Form S-1 registration statement with the SEC on October 14, 2026, updating the terms of its planned initial public offering on the Nasdaq Capital Market. The filing describes a firm-commitment offering of 4,285,715 shares at an expected price of $7.00 per share, which would raise approximately $30.0 million in gross proceeds before underwriting discounts and offering expenses.
The company operates hosting facilities where it houses and manages Bitcoin-mining hardware on behalf of mining operators, generating revenue from hosting and operations and maintenance fees rather than from mining bitcoin itself using its own capital. Bitari’s current sites are located in Wheeler and Dumas, Texas, alongside a facility in Marion, Indiana, placing the company’s infrastructure in regions that have become popular for mining operations due to relatively low electricity costs and available grid capacity.
US Tiger Securities is underwriting the offering, which the filing says has already attracted non-binding cornerstone interest from two investors: Aleria Technology, indicating interest in roughly $3 million of the offering, and Nano Labs, indicating interest in roughly $1.5 million. Cornerstone investors typically commit informally to purchasing a portion of an IPO ahead of pricing, giving the offering a degree of demonstrated demand before it opens to the broader market, though such indications are generally non-binding and can change before the deal actually closes.
Bitari laid out a specific breakdown for how it intends to use the roughly $26.95 million in estimated net proceeds after underwriting costs: approximately 40% toward acquisitions, 30% toward market expansion, 15% toward building new mining infrastructure, 10% toward research and development, and the remaining 5% toward general working capital. That allocation suggests the company is positioning the IPO proceeds primarily to grow its hosting footprint and potentially acquire complementary businesses, rather than funding ongoing operations at its existing sites.
The proposed ticker symbol “BIAI” and the amended terms represent the third round of adjustments Bitari has made to its registration statement as the IPO process has progressed, a common pattern for smaller companies navigating SEC review, where underwriters and issuers often revise pricing, share counts, or other terms multiple times before a final effective registration and listing. The S-1/A, filed with the SEC, remains subject to SEC review before the offering can be finalized and trading can begin.
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