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The Bitcoin mining giant Bitfury confirms planning to launch an initial public offering (IPO) in the near future.
Bitfury IPO Is Underway
More so, Bitfury CEO Valery Vavilov reveals plans to crypto news site, stating that the firm
“will be considering an IPO as part of its broader expansion and growth plans.”
Furthermore, There’s no date for the IPO, as Bitfury didn’t include it in the announcement. Also, there’s no sure exchange for the launch of the IPO.
Formerly, U.K. news outlet The Telegraph makes reports that firm should work with the consulting firm Deloitte. Of course, this is in preparation for an IPO.
Meanwhile, Bitfury offices are in the Netherlands as the company’s legal base is in the U.K. Notably, This may be the largest IPO from a European cryptocurrency company to date.
Currently, the firm worth is around between $500 million to $1 billion.
Not The Only Mining Companies To Follow This Path
Furthermore, Bitfury is one of many Bitcoin mining firms to go public. Notably, Stronghold Digital Blockchain rolls out its IPO on Nasdaq. Also, Argo Blockchain rolls out its own sale through Nasdaq. More so, Other crypto mining companies inc Riot, HIVE, Marathon, and Canaan carried out IPOs in recent years.
Additionally, Bitmain and MicroBT are planning to carry out their own IPOs. But, currently they are yet to complete those plans.
While, Bitfury joins the big game players.
Lastly, Miners clamour around IPOs because they work primarily with hardware rather than cryptocurrency itself.
As a result, they don’t have same regulations as exchanges, brokerages, and other companies dealing in crypto.
Picture credit – Firstpost