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

The company is reportedly valued at around $1 billion with investors that include Mike Novogratz’s Galaxy Digital.

Oct 11, 2021 at 10:27 a.m. UTC
Updated Oct 11, 2021 at 1:21 p.m. UTC

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.

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


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Jamie Crawley is a CoinDesk news reporter based in London.