Bitfury to go public with value capped in billions of pounds

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.

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