Bitfury – A Blockchain tech giant company is consideringanInitial Publicoffering[IPO],thatmight reportedly becomethe firstmajor public listingwithin thecryptophasein Europe.
In line with a recent news report by ‘Bloomberg,’ Bitfury is examiningseveral rangeofoptionstogether withraising debtfinancingorsellinga minority stake. The corportae is expecting to go publicwithin thefollowing2 years to raise its worth from $3 Bln to $5 Bln. However, the numbersmightchangelooking on the marketsalong with thehealth of theindustry,supposedsources told Bloomberg.
Bitfury has reportedly contactedglobalinvestment banksprior toa possibleIPOin London, Amsterdam, orHong Kongnext year.
Bitfury waslaunchedin the year 2011 and is recognizedone among thelargest non-Chinese company that develops Bitcoin [BTC] based blockchainsoftwares along with the infrastructure for Bitcoin [BTC] mining.The corporateconjointly developed anadditionaleconomicalalgorithmfor routing on the Lightning networkreferred as‘Flare,’ that operates as a secure off-chain channel forquickertransactions with less commissions.
Even last month, Bitfury launcheda newgeneration of its Bitcoin [BTC] mining hardwaresupporting Application-SpecificIntegrated Circuit[ASIC] chip, Bitfury Clarke. The chip issoldon an individual basisadditionallyto being integrated into Bitfury’salternativeBTC mining hardware. The corporate is alsoabout to implement the new ASIC in its mining centers inCanada, Iceland, Georgia, and Norway,whereitreceived govt’s approval earlier in March.
Earlier in July, Toronto-based Bitcoin [BTC] mining company‘Hut 8’revealedthe completion of its 2nd mining facility inCanada, claimingto have become the world’s “largest publicly-traded” operator bycapacity. The project was launched through a partnership with BitFury,thatprovidedthe corporateaccess to mining hardware andalternativerequirements.