The company’s CEO confirmed to Cointelegraph that Bitfury, one of the world’s largest blockchain industries, is considering an IPO, or IPO, as part of the company’s global growth plans.
“As Bitfury and its portfolio of companies continue to expand globally in digital real estate, Bitfury will consider the first application as part of its broader expansion and growth plans,” said Valery Vavilov, co-founder and CEO of Bitfury.
According to the CEO, Bitfury has yet to decide when and on which stock exchange the company wants to continue listing. The last round of funding for the company took place in 2018, when Bitfury raised $ 80 million worth of $ 1 billion.
Bitfury’s investors include European venture capital fund Korelya Capital, South Korean internet giant Naver Group, Asian organizations Macquarie Capital and Dentsu Japan, and Michael Novogratz’s crypto investment company Galaxy Digital.
UK news agency The Telegraph initially reported Bitfury’s potential IPO plans on October 10, citing anonymous sources that claimed Bitfury used the big four accounting firm Deloitte to vet IPO preparations. The Norwegian Post has indicated that Bitfury is headquartered in the Netherlands, although it is legally located in the UK. Bitfury did not immediately comment on Cointelegraph’s legal headquarters.
Bitfury, founded in 2011, is a large company in the industry providing a wide range of services such as cryptomination hardware design, manufacturing software and semiconductor chips, and mobile data center management. A subsidiary of Cipher Mining, an American bitcoin mining company, was valued at over $ 2 billion as of March 2021.
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In addition to cryptocurrency mining, Bitfury is actively involved in cryptocurrency security, blockchain research and regulatory compliance, and operates platforms such as Crystal Blockchain, LiquidStack, and the latest Axelera AI software. The company is also a software provider for some global applications with its own blockchain structure, Exonum, which tested a blockchain-based voting system in Russia in 2020.