BitFury eyes at one of the largest public listings within a year

BitFury, the leading security and infrastructure provider for Bitcoin, is planning for one of the biggest public listings in Europe. As per the report from The Telegraph, the firm aims to achieve a valuation of billion pounds within a year.

The firm is based in the United States and has its main office in the Netherlands. It is frequently seen working closely with financial auditing and consulting giant Deloitte for their IPO launch.

BitFury, in its last round, raised 730 million pounds or around $1 billion, but it is aiming to increase the upcoming public float’s valuation by 33%.

It is important to note that many big names in the crypto industry have invested in the company. This includes Mike Novogratz’s Galaxy Digital and the Australian investment bank Macquarie.

BitFury aims the largest ever public listing

BitFury will bring the largest ever listing by any European crypto-based company on the basis of all the initial public offerings. The US-based crypto exchange Coinbase has the crown for handling the largest public listing by any crypto till now.

In mid-2021, the company also came up with a new division dubbed Cipher Mining through a Special Purpose Acquisition Deal (SPAC). Nasdaq exchange has recently listed the Cipher in the United States, holding $2 billion itself.  Additionally, BitFury is also a minor shareholder in Cipher Mining.

Along with the work of Bitcoin blockchain security, BitFury also creates innovative mining hardware to keep cryptocurrencies and chains safe. For instance, custom semiconductors that help in mining. The company has its roots all over the world, especially in Iceland, Central Asia, Canada, and Norway.

The major Chinese crackdown in May 2021 resulted in a ban on mining activities in the country. However, the market has fully recovered now and picked up the pace once again. After going through a slight crash and hitting bottom in July, the Bitcoin hashrate has massively recovered recently. It is a good time for companies to enter the game through a public listing.