Bitfury, the cryptocurrency mining hardware giant, wants to go public in Europe within a year. Deloitte has stepped in to prepare it, so the company can be evaluated for issuing shares on a regulated market.
Bitfury ready to go public on the European markets
According to reports, the cryptocurrency mining hardware manufacturer seems to be dealing with one of the four largest accounting firms, Deloitte, to assess its preparation for the stock listing process.
Bitfury had a $1 billion valuation after its last funding round and is backed by the likes of Mike Novogratz’s Galaxy Digital.
There are no official publications, but it appears that plans for its listing on European markets (where Bitfury is based) could already be a reality within the next 12 months.
As many in the industry point out, should Bitfury have all the right cards to go public, this would constitute one of the largest IPOs of a bitcoin and cryptocurrency mining hardware company.
— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) October 11, 2021
“Bitcoin miner BitFury is preparing to go public for a valuation of billions – the largest bitcoin listing in Europe!”
Crypto companies going public
If Bitfury succeeds in its mission, it certainly wouldn’t be the first company involved in the cryptocurrency industry to go public globally.
Coinbase, one of the leading cryptocurrency exchanges based in the United States, went public precisely on April 14 this year. Without having to resort to an IPO, Coinbase became the first U.S. cryptocurrency company to go public through a direct listing, without issuing new shares but by opening existing ones to the public.
Not from the U.S., but listed on Nasdaq, there is also the Chinese company Canaan Inc, producer of ASICs for bitcoin mining. Canaan Inc (CAN) has been listed since 2019, and, in this case, the company had issued an IPO on the U.S. market, raising a whopping $90 million.
Bitfury: between cryptocurrency mining hardware and blockchain
Bitfury’s ecosystem is not only about cryptocurrency mining. Launched in 2011, the project has also developed its own technologies over time, such as Exonum Enterprise’s Blockchain and Crystal.
Launched in 2019, Exonum Enterprise is the first blockchain created from the ground up to help companies and governments design and launch projects with complete transparency, leveraging the bitcoin blockchain.
Born as a Blockchain-as-a-Service (BaaS) from the mining giant, Exonum Enterprise is anchored to the bitcoin blockchain.
On the other hand, Crystal is a web-based software tool that helps financial institutions and law enforcement agencies manage investigations on the blockchain.