The market is currently buzzing with a round of speculations about a possible initial public offering (IPO) of Bitfury- a major blockchain technology and software solution provider.
Bitfury, which is also a huge contributor in the Bitcoin (BTC) mining business, has selected the international consultancy Deloitte to support its efforts and rumours suggest that the price tag of the partnership could be billions.
The blockchain giant, which is headquartered in the Netherlands but is registered in the UK, was valued at $1 billion in its most recent fundraising round.
Should the initial public offering occur, it would become the biggest ever IPO for a European crypto and blockchain business. Bitfury’s offering is expected to take place at the London Stock Exchange (LSE) or the Euronext market in Amsterdam.
This is not the first time that rumours over the company’s potential IPO plans emerged. In 2018, it was suggested that Bitfury had reached out to global investment banks in relation to a planned trading debut in Amsterdam, London, or Hong Kong the following year.
In March 2021, Bitfury’s Bitcoin mining unit Cipher Mining (CIFRW) signed a deal that allowed it to become listed on the US Nasdaq market through a special purpose acquisition company (SPAC) merger with Good Works Acquisition Corp. The combined company was valued at $2 billion.
Bitfury was initially set up in 2011. The company was founded by Valery Vavilov (a well-known latvian entrepreneur) who also serves as the company’s CEO. Among others, the business has crypto mining operations in Canada, Norway, Iceland, and Central Asia.
Some of Bitfury’s investors include Mike Novogratz’s Galaxy Digital and Australian investment bank Macquarie.
Those who speculate the IPO believe that the offering will be available in the next 12 months. The Bitfury IPO comes after China has recently banned crypto, forcing mining operations to spread more evenly across the globe.
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