Genesis and Northern Data, two Bitcoin miners that want to go public in the US – DiarioBitcoin
By Hannah Perez
Both Genesis, formerly backed by Sam Bankman-Fried, and Europe-based Northern Data are reportedly considering IPOs in the US market.
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- Genesis, formerly backed by Sam Bankman-Fried, mulls US IPO
- Europe-based Northern Data, too, albeit for its AI and data center businesses
- The second largest Bitcoin mining company is now listed on a German stock exchange
Two mining companies Bitcoin, Northern Data AG and Genesis Digital Assetsare reportedly considering going public on the US stock exchange.
The mining company Bitcoin formerly backed by convict Sam Bankman-Fried, Genesis Digital Assetsis reportedly considering an initial coin offering (IPO) in the United States, it reported. Bloomberg quoting a person familiar.
The sources said the company is working with advisors on the listing and plans to conduct a pre-IPO funding round in the coming weeks, the publication said.
It is not alone. Apparently, the company in the sector Northern Data It is also working with potential advisers to pursue similar plans in the US market as well, according to a separate report from the same newspaper.
The European-based miner is reportedly considering a listing for its combined cloud AI and data center businesses at a valuation of between $10 million and $16 million, people familiar with the matter said. Deliberations are ongoing and plans could change, the report added.
Northern Databased in the German city of Frankfurt, went public in Europe in 2018. Its shares, which are listed on the , fell 13% after reports of an IPO launch in the United States.
A few days ago, the company had promoted itself as the first in Europe to acquire the H200 graphics processing units from Nvidia through a new partnership with Super Micro Computerafter estimating a significant increase in its income this 2024.
The miner of Bitcoin a market value of approximately 1.76 billion euros, received a strategic investment last year from Tetherthe issuer of the largest stablecoin of the world, USDT.
Other companies in the cryptocurrency industry have recently expressed their ambition to go public in the United States. A few weeks ago it was reported that Krakena reputable San Francisco-based cryptocurrency exchange, was planning to launch an IPO, with talks of raising $100 million.
It is worth noting that an IPO is a method for companies to raise capital by listing shares on a public stock exchange. In the US, businesses need regulatory approval to carry out such offerings.
Article by Hannah Estefanía Pérez / Bitcoin Diary
Image generated with AI tool, under free use license
WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be appropriate for retail investors, as the total amount invested could be lost. Check the laws of your country before investing.
