The startup has been considering a number of options in order to receive funding, such as raising debt financing or selling stakes to future stakeholders. If Bitfury decides to enter the IPO space, the value of the company could see a sharp rise from $3 billion to $5 billion, yet numbers can shift up or down based on the market.
According to Bloomberg, the company has already contacted international investment banks, in order to prepare for a potential IPO in 2019 in Amsterdam, London or Hong Kong.
The startup was established in 2011 and soon it became the largest non-Chinese company, developing Bitcoin (BTC)-related blockchain software and supporting Bitcoin (BTC) mining.
Bitfury also developed a refined computer routing algorithm on the Lightning network – Flare, which is a faster, cheaper off-chain channel.
In September, Bitfury released a new version of its BTC mining hardware rigs, with an ASIC chip as a heart. The ASIC chip is also sold separately, as well as integrated into Bitfury’s mining centers in Iceland, Canada, Norway, and Georgia.
In July, Hut8 – BTC mining company in Toronto, has announced that its second mining facility in Canada is operational, claiming the title “The largest publicly-traded” mining company. Hut8’s project was launched in association with Bitfury, which gave Hut8 access to hardware and other mining tools.