Amsterdam-based mining company Bitfury is set to go public.
The firm, which had a valuation of more than $1 billion during its last fundraising round, has brought in Deloitte over a potential public listing in the next 12 months. It is understood its main backers are Mike Novogratz’s Galaxy Digital and Australian investment bank Macquarie.
“We see a lot of demand from companies and public institutions to put their services or products in the blockchain — especially in emerging markets, where administrative systems can be very inefficient,” Bitfury Chief Executive Officer Valery Vavilov said at the time.
The private placement was led by Korelya Capital – a European investor backed by Korea’s Naver Group, according to a statement from Bitfury. Other participants include Novogratz’s Galaxy Digital and Europe-based firms Jabre, Lian Group and Armat Group.
Bitfury’s IPO – biggest crypto listing ever
An IPO of Bitfury stock would be the biggest ever listing for a European cryptocurrency company. It comes after the float of US cryptocurrency trading app Coinbase, which is currently valued above $50 billion.
Cipher is now listed on the US Nasdaq exchange with a value of $2bn, and Bitfury is a minority shareholder. Experts say that its listing will probably happen on Euronext.
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