Bloomberg: European Crypto Mining Firm Bitfury Considers Going Public
Blockchain technology company Bitfury is considering a potential Initial Public Offering (IPO), which could reportedly become the first major public listing in the crypto industry in Europe, Bloomberg reported Oct. 25.
People familiar with the matter reportedly told Bloomberg that Bitfury is examining a range of options including raising debt financing or selling a minority stake. Should Bitfury go public in the following two years, its value could reach from $3 billion to $5 billion. However, the numbers could change depending on the markets and the health of the industry, purported sources told Bloomberg.
Bitfury has reportedly contacted global investment banks ahead of a potential IPO in London, Amsterdam, or Hong Kong next year. Bitfury was founded in 2011 and is recognized as the largest non-Chinese company that develops Bitcoin (BTC) blockchain software and provides infrastructure for BTC mining. The company also developed a more efficient algorithm for routing on the Lightning network called Flare, which operates as a secure off-chain channel for faster transactions with less commissions.
