Bitfury, a blockchain technology company, is about to become the first major public listing in the crypto industry in Europe as it reviews a potential Initial Public Offering (IPO).
Bitfury is considering various possibilities including raising debt financing or selling a minority stake. If it publicizes in following two years, its value could reach from $3 billion to $5 billion. Nevertheless, the numbers could change depending on the markets and the industry circumstances. Bitfury has collaborated with global investment banks for a potential IPO in London, Amsterdam and Hong Kong.
Bitfury was established in 2011 and is gaining recognition as the largest non-Chinese company that makes progress on Bitcoin(BTC) blockchain software and offers infrastructure for BTC mining. The company owned Flare, an efficient algorithm for routing on the Lightning network. The system works as a secure-off chain channel for faster transactions with less commissions.
Bitfury introduced a new generation of its BTC mining hardware based on an Application-Specific Integrated Circuit(ASIC) chip, Bitfury Clarke last month. It is beneficial to have the chip to incorporate other BTC mining hardware from Bitfury. It is also expecting to bring the new ASIC in its mining centres in Canada, Iceland, Georgia and Norway in March with pre-approval from their governments.
Hut 8, Toronto-based BTC mining company, reported the achievement of its second mining facility in Canada with the title of “the world’s largest publicly-traded operator.” The project started with the collaboration with Bitfury where it could get the assist to the access to the mining hardware and other necessities.
Author: Jieun Lee