BitFury Crypto Mining Chip Manufacturer to Consider Initial Public Offering (IPO)
BitFury, a company that is based on blockchain technology, is reportedly considering a new path with an Initial Public Offering (IPO). This fundraising opportunity is just one of the many options they are considering to bring in more revenue for their projects.
However, if they choose this path, it would make them the first company in Europe to use an IPO for crypto support.
This hypothetical IPO could end up being listed in Amsterdam, according to “people familiar with the matter,” by 2019. However, everything is still up in the air with this decision, since the company is also toying with the idea of raising debt financing or selling a minority stake.
While this decision is in flux, the company has been consulting with investment banks worldwide to figure out if an IPO is their best option, including London, Amsterdam, and Hong Kong.
Right now, if BitFury decides to go public in the next 24 months, the company could be valued at approximately $3 billion to $5 billion. However, according to a report from Bloomberg, the values provided are just “early estimates and could change depending on markets and the industry.” The most recent generation of Bitfury’s ASICs were just released, allowing miners to have access to the world’s largest cryptocurrency by market cap.
Then also released an enterprise-grade Bitcoin miner in October, while working on increasing the number of mining farms in Canada through Hut 8 Mining Corp.
If BitFury decides on an IPO as their fundraising support, they’d be in company with Bitmain, who announced their own on the Hong Kong Stock Exchange last month. At this point, BitFury hasn’t replied to requests for a comment.