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The European Bitfury mining encryption company considers public

Bitfury blockchain technology company is evaluating a potential initial public offering (IPO), which reportedly may become the first major public quotation in the cryptographic industry in Europe, Bloomberg reported on October 25.

People familiar with the issue have told Bloomberg that Bitfury is examining a range of options including increasing debt financing or selling a minority stake. If Bitfury were to become public in the next two years, its value could be from $ 3 to $ 5 billion. However, the numbers could change depending on the markets and the health of the sector, reported sources reported to Bloomberg.

Bitfury has contacted global investment banks for a potential IPO in London, Amsterdam or Hong Kong next year.

Bitfury was founded in 2011 and is recognized as the largest non-Chinese company that develops bitcoin blockchain software (BTC) and provides infrastructure for the extraction of BTC. The company has also developed a more efficient routing algorithm on the Lightning network called Flare, which operates as a secure off-channel channel for faster transactions with fewer commissions.

Last month, Bitfury launched a new generation of its BTC data mining hardware based on an Application-Specific Integrated Circuit (ASIC) chip, Bitfury Clarke. The chip is sold individually as well as being integrated into Bitfury's BTC mining hardware. Bitfury is planning to implement the new ASIC in its mining centers in Canada, Iceland, Georgia and Norway, where the company received government approval in March.

In July, the BTC mining company, based in Toronto, Hut 8, announced the completion of its second mining facility in Canada, claiming to become the world's largest "listed on the stock exchange" by capacity. The project was initiated through a partnership with BitFury, which allowed the company access to data mining hardware and other needs.

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