Bitcoin Miner Bitfury Plans to Go Public With Value in ‘Billions of Pounds:’ Report

Bitcoin mining company Bitfury is preparing to go public with what would be Europe’s biggest cryptocurrency valuation, according to The Telegraph.

• Bitfury is seeking advice from Deloitte over a potential public listing in the next 12 months and could have a “price tag in the billions of pounds,” according to the report Monday.

• The Amsterdam-based company is valued at about $1 billion, The Telegraph said, and its investors include financier Mike Novogratz’s Galaxy Digital.

• In March, Bitfury spun off a U.S. mining operations business through a combination with the special purpose acquisition company Good Works Acquisition. Cipher Mining had an enterprise value of $2 billion and is now listed on Nasdaq.

• Bitfury, which was founded in 2011 by CEO Valery Vavilov, is reportedly considering a listing in either London or Amsterdam. The company didn’t immediately respond to CoinDesk’s request for a comment.

• At present, Argo Blockchain is the only publicly listed crypto miner in the U.K.

Read more: Argo Blockchain to Buy 20,000 Mining Machines for West Texas Data Center

UPDATE (OCT. 11, 11:12 UTC): Adds Cipher spinoff, listing location.