LandBridge Seeks to Raise $319 Million in IPO, Eyes Potential Bitcoin Mining Opportunities

LandBridge seeks to raise $319 million through an IPO in the United States, with a target valuation of $1.6 billion. Matthew Sigel, head of digital assets at VanEck, cited a person familiar with the matter as saying that LandBridge is eyeing opportunities to capitalize on Bitcoin mining activities. LandBridge owns more than 220,000 acres of land in the oil-rich Permian Basin. It generates revenue by leasing land and selling mined resources, including oil and gas. Although the company is eager to delve deeper into the commodities and energy sectors, Sigel pointed out that they also see Bitcoin mining as a growth vector that can expand revenue sources. The above-mentioned person familiar with the matter said that existing infrastructure, such as roads and power lines, is a selling point for cryptocurrency mining facilities and data centers. (Bitcoinist)