Mining hardware maker Bitfury plans to go public – Mining Bitcoin News

BitFury, the leading non-Chinese bitcoin mining hardware maker, is reportedly planning to go public in the next 12 months. It is one of the largest lists of European-based cryptocurrency mining hardware companies to date. The company was valued at 1 billion after the latest round of funding, and was backed by companies like Mike Novograts ’Galaxy Digital.

Bitfury is going public in the European market

Bitfury, one of Europe’s most important cryptocurrency mining hardware manufacturers, is reportedly planning to go public in the European market. Deloitte, a company specializing in bitcoin mining and the supply of hardware for services related to this hardware, has approached one of the four largest accounting firms to evaluate its readiness for the process of issuing stock in the regulated market, according to an article published. By telegraph.

The company wants to capitalize on the cryptocurrency bull market to see better performance with the public market. Bitfury’s last fundraising round took place in 2018, when the company raised ০ 1 million from investors such as Mike Novograts of Galaxy Digital, valued at ১ 1 billion. Beatfury is reportedly looking at Amsterdam or London as a potential market for its public offerings.

Other crypto companies are going public

If Bitfury could be a publicly traded company, it would not be the first in crypto. Earlier this year, Coinbase, one of the US-based cryptocurrency exchanges, went public, giving traders the opportunity to invest in the future of the crypto world without having to invest directly in the cryptocurrency. The company has earned 50 50 billion in valuations since its enrollment. Other cryptocurrency mining-related companies are already trading in the public market.

Asian crypto mining hardware maker Canon Mining was unveiled to the U.S. market in November 2019, raising ০ 1 million in the process. Bitfury is the parent company of Cipher Mining, which is already trading on Nasdaq through a AC 2 billion SPAC deal with Good Works Acquisition Corporation.

According to estimates, the company’s valuation could rise to billions of dollars after listing, earning more than $ 1 million in 2011. This points to the growing importance of bitcoin in the economic and geopolitical world after El Salvador’s bitcoin. The law formally made it a legal tender last month, and more and more companies are considering investing in Bitcoin as an inflation hedge.

What do you think of Bitfury’s public plans? Tell us in the comments section below.

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