Cryptocurrency Firm Bitfury Is Reportedly Looking to Go Public, Could Hit Price Tag in the "Billions of Pounds"

Bitfury is reportedly looking to go public

• Cryptocurrency mining and services firm Bitfury is looking to go public within the next twelve months, according to a report by The Telegraph. Reporterdly, Bitfury is looking to be listed in either London or Amsterdam.
• The Amsterdam-headquartered Bitfury was founded in 2011 and offers cryptocurrency mining hardware and infrastructure, as well as high-performance computing solutions. The company has also developed the Crystal blockchain analysis software tool and a blockchain-as-a-service solution called Exonum.
• According to The Telegraph’s report, Bitfury has sought assistance from professional services firm Deloitte to better prepare for its planned public debut. Bitfury was valued at about $1 billion when it last raised capital from investors. If it goes public, The Telegraph writes, Bitfury’s price tag would likely be "in the billions of pounds", which would make it the largest cryptocurrency company to go public in Europe. Currently, cryptocurrency mining company Argo blockchain is trading on the London Stock Exchange, and has a market capitalization of about $532 million.
• Earlier this year, Bitfury spun off its U.S.-based Bitcoin mining operation into a newly formed subsidiary called Cipher Mining. The subsidiary then merged with Good Works Acquisition Corp. (a SPAC) and is now trading on the NASDAQ under the ticker CIFR.
• The most notable cryptocurrency company to go public so far is Coinbase, but other players like Marathon, Galaxy Digital and Riot Blockchain are also trading in public markets. In addition, several companies like Circle, Bullish and Bakkt have announced plans to go public by merging with SPACs.