Bitfury Is Said To Be Valued ‘In Billions’ as IPO Rumors Reemerge

Another round of speculations about a possible initial public offering (IPO) of the major blockchain infrastructure and software solution provider Bitfury just reached the market. 

The company, which is also a major player in the Bitcoin (BTC) mining business, has selected the international consultancy Deloitte to support its efforts, The Daily Telegraph reported, claiming it has obtained information suggesting the offering could have a “price tag in the billions of pounds.”

Bitfury, which is headquartered in the Netherlands but registered in the UK, was valued at some USD 1bn in its most recent fundraising round. 

Should the listing take place, it would represent the biggest ever IPO for a European crypto and blockchain business, per the report. Bitfury’s offering is expected to take place at the London Stock Exchange (LSE) or the Euronext market in Amsterdam, it added.

It’s not the first time when speculations over Bitfury’s potential IPO plans emerged. In 2018, Bloomberg suggested that the company had reached out to global investment banks in relation to a planned trading debut in Amsterdam, London, or Hong Kong the following year. 

Meanwhile, 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 USD 2 billion.

CIFRW stock price chart:

Bitfury was set up in 2011, and it was founded by Latvian entrepreneur Valery Vavilov 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. 

Cryptonews.com has contacted Bitfury for comment.
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