Blockchain technology company, Bitfury, has raised $80 million from a number of global institutional and corporate investors.
Led by Korelya Capital, the private placement was joined by Macquarie Capital, Asian financial institution Dentsu Inc., European investment company Armat Group, European fund managers Jabre and Lian Group, Argenthal Capital Partners, insurance group MACSF and Mike Novogratz’s digital asset merchant bank Galaxy Digital.
Mike Novogratz’ Galaxy Digital Backs Cryptocurrency Giant Bitfury with $80 million
The digital currency mining startup was reportedly considering a $5 billion crypto IPO, with a plan to go public in either Amsterdam, London, or Hong Kong. As an alternative, Bitfury was open to selling stakes or debt financing.
Today’s announcement reflects the firm’s achievements, according to Valery Vavilov, CEO and co-founder of Bitfury.
“2018 has been a year of incredible expansion for Bitfury. This private placement reflects our achievements, and it recognizes our ability to address adjacent market segments in high-performance computing, including in emerging technologies like artificial intelligence (AI). The institutionalization of blockchain and cryptocurrencies, partnered with the opportunity of these emerging technologies, is a natural expansion opportunity that Bitfury will build on — in 2019 and beyond.”
The London and Amsterdam-based firm earned $450 million annual revenue as of March as a result of the cryptocurrency fever of late 2017.
George Kikvadze, Bitfury’s executive vice chairman, said the successful fundraiser proved investors’ belief in the company which leads blockchain B2B global technology infrastructure at the corporate and government level. Kikvadze expects Bitfury to broaden
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