Home Crypto BitFury plans one of the largest public listing in Europe

BitFury plans one of the largest public listing in Europe

BitFury plans one of the largest public listing in Europe

Bitcoin (BTC) mining company ‘BitFury’ is reportedly preparing for one of the largest public listings in Europe. The mining company is reportedly looking to go public within 12 months.

From $1 billion to £1 billion

According to the latest figures, BitFury could be valued at one billion pounds (£). Before they can launch their IPO, it must first be reviewed. The BitFury Group that is behind the mining company Bitfury is said to have entered into a partnership with financial audit giant Deloitte. Although BitFury is headquartered in the Netherlands, it is legally established in the United Kingdom (UK).

The last time BitFury was valued, it was valued at $1 billion, or about £730 million. However, the company wants to increase this valuation by approximately 33% in the upcoming IPO. The company has many major investors including big names in the crypto world, including Mike Novogratz’s Galaxy Digital and Australian investment bank Macquarie.

Mining industry picks up again

Once the IPO is complete, BitFury will become the largest listing to date as a European Crypto Company. Currently, US cryptocurrency exchange Coinbase has the crown for undergoing the largest public listing by a crypto company.

BitFury deploys specialized crypto mining hardware to mine digital assets. It has ongoing operations in multiple global locations including Iceland, Norway, Canada and Central Asia.

Cryptocurrency mining activities are starting to pick up again after China’s crackdown. The bottom was reached last July, after which the Bitcoin hashrate has now recovered to 70%. From data sourced from Blockchain.com, the BTC hashrate is currently around 141 million TH/s. With this, it seems like a good time for Bitcoin mining companies to opt for public listing as the market picks up steam again.

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