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Bitfury Rumored to be Preparing for IPO

An IPO is potentially in the cards for major European blockchain-based tech firm Bitfury, which will mark the step as the first large-scale public listing within the cryptocurrency industry in the region.


 

The firm has been researching various alternatives for a while now, which include increasing financing on debt or the sale of a small share of the company. If the firm does go public during the next few years, it would be valued in the range of $3 to $5 billion, but these numbers are likely to change according to the market and the overall condition of the crypto industry at the time.

Bitfury has already been in contact with international investment banks for the potential IPO in the coming year, which could be in London, Hong Kong, or Amsterdam.

Bitfury’s Long Streak of Achievements

The tech firm was established back in 2011. It is currently considered to be the biggest firm for bitcoin software development outside of China, offering a complete structure for bitcoin mining for companies. Bitfury also produces a more effective Lightning routing algorithm, referred to as Flare. That algorithm works as an off-chain and secure connection for much faster, less expensive transactions

Bitfury, during the previous month just launched a brand new bunch of mining hardware designed with an ASIC chip, called Bitfury Clarke, which is sold separately and can be integrated into the firm’s already available mining hardware. Bitfury is also planning for the implementation of the chip in its overseas centers in Iceland, Norway, Canada, and Georgia, as authorization was just received last March.

BTC mining firm Hut 8, which is based in Toronto, announced last July that work on its 2nd facility in Canada was just completed, claiming to be the biggest public trading operator in the world in terms of capacity. This project has been launched via a BitFury partnership, in which the company obtained mining hardware, among other essentials.

6 months ago

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