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The CEO of Bitfury admits that IPO thoughts are part of the company’s expansion objectives


Bitfury, one of the world’s largest blockchain startups, which raised $80 million in 2018 at a $1 billion valuation from investors like Michael Novogratz’s Galaxy Digital, is considering an initial public offering, or IPO, as part of its global expansion plans, according to the company’s CEO.

Co-founder and CEO Valery Vavilov said, “As Bitfury and its portfolio of firms continue their global expansion in the digital assets market, Bitfury will be considering an IPO as part of its broader expansion and growth objectives.”

As per the CEO, Bitfury has yet to decide when and on what exchange it will launch its initial public offering. the company’s most recent investment round was in 2018, when the firm raised $80 million at a $1 billion valuation.

European venture capital firm Korelya Capital, South Korean internet behemoth Naver Group. In addition to Asian institutions Macquarie Capital and Dentsu Japan. As well as Michael Novogratz’s crypto investment firm Galaxy Digital, are among Bitfury’s investors.

News agency in the United Kingdom On October 10, The Telegraph, reported on Bitfury’s prospective IPO ambitions. Citing confidential sources who said that the company had hired Big Four accounting firm Deloitte. In order to assess its suitability for going public. Bitfury’s main headquarters are in the Netherlands, although it is legally based in the United Kingdom, according to the publication. Bitfury did not respond to a request for comment on their legal headquarters right away.

Bitfury, which founded in 2011, is a prominent player in the market. Providing services such as crypto mining hardware design, software, semiconductor chip manufacturing, and mobile data centre management. Cipher Mining, the company’s Bitcoin mining business situated in the US, was valued at over $2 billion in March 2021.

Bitfury it’s currently focusing on multiples services

Bitfury has been actively working on cryptocurrency security, blockchain research, and compliance. As well as running platforms including Crystal Blockchain, LiquidStack. And the most recent turn Axelera AI, in addition to bitcoin mining. Through its Exonum private blockchain architecture, which was trialled for Russia’s blockchain-based voting system in 2020, the company is also a software provider for various global applications.

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