One of the largest mining companies in Europe, Bitfury, is considering the possibility of becoming public. Company representatives are in talks with several global investment banks and plan to begin trading in Amsterdam, London or Hong Kong in 2019. An IPO could help the company reach a valuation of $3-5 billion.
Bitfury representatives have not yet given official comments on this matter. The source of the information preferred to remain anonymous, as company employees are prohibited from publishing this information.
The Bitfury company, which produces mining hardware, was founded in 2011 by Valery Vavilov and Valery Nebesny, who have a controlling stake. Statistics for 2017 showed that Bitfury controls approximately 9.5% of the computing power of the Bitcoin network."
The company's data centersare located in Finland, Georgia, Iceland, and Canada.
In 2016 year, the company announced the signing of a memorandum of understanding with Georgia, whose government postponed the process of registering the purchase and sale of ownership rights to land plots on blockchain A year after this, the company signed another memorandum of understanding, this time with the government of Ukraine, the purpose of the memorandum was to create a “full-scale program
Not so long ago, the largest mining company Bitmain filed an application to conduct IPO to the Hong Kong Stock Exchange, planning to receive a valuation of $3 billion. In the application, Bitmain representatives indicated that they have received more than $2 billion in revenue over the past two financial years.
Bitfury's $450 million revenue is nervously smoking on the sidelines.
However, due to regulatory uncertainty, some investment banks are still advising to stay away from cryptocurrency IPOs.
According to blokt.com
You May Also Like
Profitability of Ethereum mining using GPUs has fallen
New data released by international trading and technology firm Susquehanna showed that Ethereum GPU mining profitability dropped to zero in November. Back in the summer of 2017, Ether miners received $150 per month.
Bitmain IPO is in doubt
The public offering (IPO) of the largest miner manufacturer Bitmain may not take place, as the Hong Kong financial market regulator, which must approve the IPO, recently raised concerns about the lack of regulatory framework for the blockchain industry.
