Bitfury CEO confirms that IPO considerations are part of the company’s expansion plans

Bitfury, one of the world’s largest companies in the blockchain industry, is considering a potential public offering or initial public offering as part of the company’s global growth plans. as confirmed by the company’s CEO to Cointelegraph.

“As Bitfury and its corporate portfolio continue their global expansion in digital assets, Bitfury will consider an IPO as part of its broader expansion and growth plans.” said Bitfury co-founder and CEO Valery Vavilov.

According to the management, Bitfury has not yet determined when and on which exchange the company will be ready to go public. The company’s last financing round took place in 2018. when Bitfury raised $ 80 million with a valuation of $ 1 billion.

Bitfury CEO confirms that IPO considerations are part of the company’s expansion plans
Bitfury CEO confirms that IPO considerations are part of the company’s expansion plans

Bitfury’s investors include the European venture capital fund Korelja capital, the South Korean internet giant Naver Group, Asian institutions, Capital of Macquarie and Dentsu Japan, as well as the cryptocurrency investment company Galaxy Digital from Michael Novogratz.

The British news agency The Telegraph originally reported on Bitfury’s potential IPO plans on October 10, citing anonymous sources who claimed Bitfury had reached out to accounting firm Deloitte, one of the “Big Four,” to review their preparations for going public. The Post noted that Bitfury is headquartered in the Netherlands but is based in the UK. Bitfury did not immediately comment on its legal seat to Cointelegraph.

Founded in 2011, Bitfury is a leading company in the industry, offering a wide variety of services including hardware design for cryptocurrency mining, software, semiconductor chip manufacturing, and mobile data center management. The Bitcoin mining subsidiary of the US company, Cipher mining was valued at more than $ 2 billion in March 2021.

Not only is Bitfury focused on mining cryptocurrencies, but it is also actively working on cryptocurrency security, blockchain research, and regulatory compliance and manages platforms such as Crystal blockchain, Liquid stacks and the newest spin-off Axelera KI. The company is also a software provider for some global applications through its private blockchain framework. Exonum, which was tested in 2020 for Russia’s blockchain-based voting system.

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