Canadian Oil Firm New West Weighs US IPO to Fund Advanced Computing Pivot

Canadian energy producer and Bitcoin miner New West Data is exploring a US initial public offering to help meet the growing need for powerful computing systems.

The Calgary-based firm operates oil wells, and uses natural gas to generate the electricity needed for Bitcoin mining. A listing would help fund New West’s expansion plans, to buy more wells and power that can in turn power infrastructure for high-performance computing, which is more energy-intensive than Bitcoin mining.