cryptoplaza

🚀 LandBridge attracts cryptocurrency miners in $320 million IPO

➡️ LandBridge, an oil land buyer, is preparing for an IPO and is looking to expand its operations by attracting crypto miners.

💰 The company plans to offer 14.5 million shares at a price between $19 and $22, which could lead to its valuation of $1.6 billion.

⤵️ Owning 220,000 acres of land in Texas and New Mexico makes LandBridge attractive to oil companies and now to miners.

⚡️ The company sees potential in providing infrastructure for mining: access to power, water and a fiber optic network.

📈 Already, LandBridge is generating revenue from a "cryptocurrency facility" that brings in more money than oil - $52.1 million in 2023.

📌 Texas' climate and regulatory environment make it an attractive state for miners, but the power grid is under pressure.