Bitfury, one of the globe's largest companies in the blockchain industry, is mulling a potential initial public offering, or IPO, as part of the company's global growth plans, the company's CEO confirmed to Cointelegraph.

"As Bitfury and its portfolio of companies continue their global expansion in the digital assets infinite, Bitfury will be considering an IPO equally part of its broader expansion and growth plans," Bitfury co-founder and CEO Valery Vavilov said.

According to the executive, Bitfury has non yet adamant when and on what exchange the company is willing to go on with an IPO. The visitor'due south last funding round took place in 2022, with Bitfury raising $lxxx million at a $1 billion valuation.

Bitfury's investors include European venture capital fund Korelya Upper-case letter, South Korean internet giant Naver Group, Asian institutions Macquarie Capital and Dentsu Japan as well every bit Michael Novogratz'due south crypto investment company Galaxy Digital.

British news bureau The Telegraph originally reported on Bitfury'due south potential IPO plans on Oct. 10, citing anonymous sources claiming that Bitfury tapped Large 4 bookkeeping house Deloitte to review its readiness for going public. The publication noted that Bitfury operates its main headquarters in the Netherlands even though it is legally based in the Great britain. Bitfury did non immediately comment on its legal headquarters to Cointelegraph.

Founded back in 2022, Bitfury is a major company in the industry, operating a broad number of services like crypto mining hardware design, software and semiconductor chips' manufacturing as well every bit running mobile data centers. The company's U.s.-based Bitcoin mining subsidiary, Zilch Mining, was valued at over $2 billion as of March 2022.

Related: Bitcoin miner Stronghold will listing almost 6M shares in its $100M IPO

Apart from focusing on cryptocurrency mining, Bitfury has been actively working on cryptocurrency security, blockchain enquiry and compliance, running platforms like Crystal Blockchain, LiquidStack and the most recent spin-off Axelera AI. The business firm is likewise a software provider for some global applications through its Exonum private blockchain framework, which was trialed for Russia'due south blockchain-based voting arrangement in 2022