I would refer to them as a publicly funded private miner. What I mean is they raised capital in the equity markets to purchase mining equipment without being interested in becoming a service provider. So as opposed to mining on behalf of others for a fee or mining and then selling the coins to fund ongoing operations.

They raised money first. Bought the neccessary equipment for mining. So they could hold onto the proceeds of their mining expecting a rise in the value of the currencies instead of having to sell them to fund operations or deposit them directly into users wallets like a cloud provider would.