Coolbit Technologies, a bitcoin miner with two facilities in the US and Canada, withdrew its plans for an initial public offering on Monday, citing market conditions. It had originally filed in May 2026 to raise $23 million by offering 5 million shares (25% secondary) at a price range of $4 to $5.
The Richmond, Canada-based company was founded in 2023 and booked $20 million in revenue for the 12 months ended September 30, 2025. It had planned to list on the Nasdaq under the symbol CBAI. Eddid Securities was set to be the sole bookrunner on the deal.
