Blockchain and smart-contract platform Chia Network Inc. has submitted a confidential draft registration to the U.S. Securities and Exchange Commission (SEC) for a proposed initial public offering. The size and price range for the offering has not yet been determined, according to a company press statement.
Chia, which was founded in 2017 by BitTorrent inventor Bram Cohen, focuses on blockchain and smart-transaction platforms such as atomic swaps, authorized payees, wallets, and coins. Through its Proof of Space and Time consensus algorithm, Chia’s public, open-source blockchain leverages hard-drive space to create the first new Nakamoto Consensus since Bitcoin in 2009.
In 2021, Chia raised $61 million in a Series D funding round, Bloomberg reported, led by Andreessen Horowitz and Richmond Global Ventures, at $500 million valuation.