Bitfury is preparing for an IPO

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 electronic governance on the blockchain.”

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