Bitfury, a company focused on the sphere of mining and other services related to cryptocurrencies, blockchain and high-intensity computing, announced in its blog that It has successfully conducted a closed placement of securities among global and institutional investors, during which it was able to raise $80 million.
The campaign was led by the European investment firm Korelya Capital, sponsored by the South Korean digital giant Naver Group. It was also attended by Macquarie Capital, an Asian financial firm Dentsu Inc. the European invest-the company Armat Group, insurance group MACSF, cryptocurrency trading Bank Mike Novogratz Galaxy Digital and others. In addition, funding was provided by a long-time investor Bitfury represented by iTech Capital. Advised the company in the process of closed placement of the European technology investment Bank Bryan Garnier & Co.
2018 was a year of incredible expansion for Bitfury. This closed placement reflects our achievements and recognition of our ability to respond to the needs of adjacent markets in high – performance computing, including in the field of emerging technologies such as artificial intelligence.
– said Valery Vavilov, CEO and founder of Bitfury.
The institutionalization of blockchain and cryptocurrency, complemented by opportunities in emerging technologies, is a natural opportunity for Bitfury to expand In 2019 and beyond.
According to Bitfury Executive Vice President Giorgi Kikvadze, the successful closed placement demonstrates the confidence of investors in the ability of His company to take a leading position in the industry during the next period of its rapid growth.
Mike Novogratz also commented on the news: “We are delighted to partner with Bitfury, a leading provider of solutions in the field of blockchain and bitcoin. We were impressed by Bitfury’s unparalleled Team, as well as the company’s vision, technical expertise and global reach. All of these factors are vital to the development of the bitcoin ecosystem at a basic level.”
In late October, Bloomberg, citing sources familiar with the situation, wrote that Bitfury could conduct an initial public offering (IPO). According to sources, if Bitfury wants to gain public status in the next 2 years, It can expect an estimate of $ 3-5 billion.