Bitfury raises $80 million funding round with an IPO on the horizon

Crypto mining-tech firm Bitfury Group just closed an $80 million private placement. The news of the raise comes after it was reported that Bitfury was considering being Europe’s first major crypto IPO, possibly in Amsterdam, London, or Hong Kong. Bitfury’s is reported to seek a valuation of $3 billion to $5 billion it it goes public in the next two years. One of Bitfury’s largest rivals, Bitmain, submitted a prospectus for its IPO in September and is thought to be worth over $15 billion. 

The venture capital firm Korelya Capital led the funding round which included Galaxy Digital, Macquarie Capital, Dentsu Inc., along with others. The investment bank Bryan, Garnier & Co. advised Bitfury on the private placement. Bitfury makes ASICs and other mining gear, along with a suite of software products targeting areas like blockchain security. (Source: Bitfury)

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Bitfury raises $80 million funding round with an IPO on the horizon written by Mike McCaffrey @ https://www.theblockcrypto.com/tiny/bitfury-raises-80-million-funding-round-with-an-ipo-on-the-horizon/ November 6, 2018 Mike McCaffrey

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