BitFury Plans Largest Listing of All Time In Europe

According to several reliable sources, bitcoin mining company BitFury is preparing for the largest public listing in Europe within the next 12 months. Bitfury is projecting a valuation of £ 1 billion, according to the latest report from The Telegraph.

BitFury is planning the largest listing of all time in Europe

Bitfury, one of the leading manufacturers of crypto mining hardware in Europe, is said to be planning a wide release in the European market. This company, which specializes in the provision of hardware for Bitcoin mining and services related to that hardware, is now said to have contacted Deloitte, one of the big four accounting firms, to confirm their willingness to issue shares in a regulated market judge.

In its final round of funding, BitFury completed a valuation of $ 1 billion, or £ 730 million. However, the company is aiming for a ~ 33% higher valuation in the upcoming IPO. Some of the company’s top investors are big names in the crypto space. Some of them are Mike Novogratz’s Galaxy Digital and the Australian investment bank Macquarie.

Through an IPO, BitFury will be the largest listing of a cryptocurrency company in Europe to date. So far, the US Coinbase holds the crown for the largest listing of a crypto company.

About BitFury

BitFury specializes in implementing cryptocurrency mining hardware for mining digital assets. The company operates in several locations around the world, including Iceland, Norway, Canada and Central Asia.

Bitcoin mining activity has recovered after an earlier massive crackdown in China in May 2021. After bottoming out in July 2021, the Bitcoin hash rate has recovered by 70% so far. According to Blockchain.com data, the BTC hash rate is currently 141 million TH / s. This is a good time to publicly list Bitcoin mining as the market is attracting attention.

The company wants to take advantage of the crypto bull market to perform better with the public markets. Bitfury’s final round of funding came in 2018, when the company raised $ 80 million from investors such as Galaxy Digital’s Mike Novogratz, and hit a valuation of $ 1 billion. Bitfury allegedly sees Amsterdam or London as possible markets for its public offering.

Bitfury isn’t the first company in the crypto space to want to become a publicly traded company. Earlier this year, Coinbase, one of the leading US crypto exchanges, went public, offering traders the opportunity to invest in the future of the crypto world without investing directly in cryptocurrencies. The company reached a valuation of $ 50 billion after listing. Other companies related to crypto mining also trade in the public market.

Canaan Mining, an Asian manufacturer of crypto mining hardware that went public in the US markets in November 2019, also raised $ 90 million.

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