Bitfury CEO confirms IPO consideration is part of expansion plan

Bitfury is one of the largest companies in the global blockchain industry. The CEO of the company confirmed to Cointelegraph that it is considering a potential initial public offering or IPO as part of the company’s global growth plan.

Bitfury co-founder and CEO Valery Vavilov (Valery Vavilov) said: “As Bitfury and its company portfolio continue to expand globally in the digital asset sector, Bitfury will consider IPO as its broader Part of expansion and growth plans.”

According to the executive, Bitfury has not yet determined when and on which exchange the company is willing to conduct an IPO. The company’s last round of financing occurred in 2018, Bitfury raises 80 million US dollars Valuation is 1 billion U.S. dollars.

Bitfury’s investors include European venture capital fund Korelya Capital, South Korean Internet giant Naver Group, Asian institutions Macquarie Capital and Dentsu Japan, and Michael Novogratz’s crypto investment company Galaxy Digital.

The British news agency “The Telegraph” initially Report On October 10, regarding Bitfury’s potential IPO plan, an anonymous source was quoted as saying that Bitfury hired Deloitte, the Big Four accounting firm, to review its preparations for listing. The publication states that Bitfury’s main headquarters is in the Netherlands, but its legal headquarters is in the United Kingdom. Bitfury did not immediately comment on Cointelegraph’s legal headquarters.

Founded in 2011, Bitfury is a major company in the industry, operating a wide range of services such as crypto mining hardware design, software, semiconductor chip manufacturing, and operating mobile data centers.Cipher Mining, the company’s Bitcoin mining subsidiary in the United States, was Worth more than 2 billion U.S. dollars As of March 2021.

related: Bitcoin miner Stronghold will list nearly 6 million shares in its $100 million IPO

In addition to focusing on cryptocurrency mining, Bitfury is also actively committed to cryptocurrency security, blockchain research and compliance, operating platforms such as Crystal Blockchain, LiquidStack and the latest derivative product Axelera AI. The company also provides software vendors for some global applications through its Exonum private blockchain framework, Conduct trials for Russia’s blockchain-based voting system 2020 year