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Agora Digital bitcoin miner (CHALLENGE), a majority-owned subsidiary of Ecoark Holdings (NASDAQ:FERVOR), canceled plans to raise up to $127 million through an initial public offering.
Agora first filed for IPO in November 2021, said it was interested in raising up to $100 million. The company then increased figure up to 127 million dollarsincludes the sale of shares with certain warrants.
Agora’s latest move comes after a failed merger with blockchain technology firm HUMBL (OTCQB:HMBL). The companies announced plans to merge in August 2022, just to terminated the agreement a month later.
Last month, Agora signed an agreement with BitNile (AULT) arrive provides digital asset mining storage services.
Ecological hold about 90% shares in Digital Agora. In addition to bitcoin mining, Ecological also engaged in food freshness management through its Zest Labs unit and in oil and gas production through its Banner Midstream business. Ecoark announced in August that it plans to split Banner Midstream through a reverse merger with Enviro Technologies (OTCQB:EVTN).
