Oil land buyer LandBridge makes a nod to crypto miners in $320M IPO

LandBridge has a huge amount of land in the middle of America’s oil country, but it also says it can make big money off crypto miners.

LandBridge, a United States firm that acquires large swaths of land for oil and gas production, says it intends to court crypto miners as part of its future strategy — amid the launch of its initial public offering (IPO) on Monday.

The company said on June 17 that it’s offering 14.5 million shares, which it anticipates will be priced between $19 and $22, potentially giving it a valuation of up to $1.6 billion. It plans to be listed on the NYSE under the ticker “LB.”

Regulatory filings show LandBridge owns around 220,000 surface acres in and around the oil and natural gas-rich Delaware subbasin in the Permian Basin area of Texas and New Mexico.

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