Bitfury – A Blockchain tech giant company is considering an Initial Public offering [IPO], that might reportedly become the first major public listing within the crypto phase in Europe.
In line with a recent news report by ‘Bloomberg,’ Bitfury is examining several range of options together with raising debt financing or selling a minority stake. The corportae is expecting to go public within the following 2 years to raise its worth from $3 Bln to $5 Bln. However, the numbers might change looking on the markets along with the health of the industry, supposed sources told Bloomberg.
Bitfury has reportedly contacted global investment banks prior to a possible IPO in London, Amsterdam, or Hong Kong next year.
Bitfury was launched in the year 2011 and is recognized one among the largest non-Chinese company that develops Bitcoin [BTC] based blockchain softwares along with the infrastructure for Bitcoin [BTC] mining. The corporate conjointly developed an additional economical algorithm for routing on the Lightning network referred as ‘Flare,’ that operates as a secure off-chain channel for quicker transactions with less commissions.
Even last month, Bitfury launched a new generation of its Bitcoin [BTC] mining hardware supporting Application-Specific Integrated Circuit [ASIC] chip, Bitfury Clarke. The chip is sold on an individual basis additionally to being integrated into Bitfury’s alternative BTC mining hardware. The corporate is also about to implement the new ASIC in its mining centers in Canada, Iceland, Georgia, and Norway, where it received govt’s approval earlier in March.
Earlier in July, Toronto-based Bitcoin [BTC] mining company ‘Hut 8’ revealed the completion of its 2nd mining facility in Canada, claiming to have become the world’s “largest publicly-traded” operator by capacity. The project was launched through a partnership with BitFury, that provided the corporate access to mining hardware and alternative requirements.