Nov 6, 2018
234 Views
0 0

Bitfury Secures $80M in Private Placement

Written by

Bitfury Secures $80M in Private Placement

Bitfury Group, the San Francisco-based manufacturer of bitcoin mining hardware, announced today that it has closed an $80 million private placement funding round. This may indicate that the company, which was rumored to be working on an initial public offering, has decided to delay taking the IPO route for now.

Also Read: Lawyer Invests $300 Million to Build Crypto City in the Nevada Desert

‘Incredible Expansion’

Bitfury Secures $80M in Private PlacementInstitutional and corporate investors from Europe, Asia and the U.S. participated in Bitfury’s $80 million private placement, led by Korelya Capital, the European arm of South Korea’s Naver Group. Participants also included Macquarie Capital, Dentsu, Armat Group, Jabre and Lian Group, Argenthal Capital Partners, MACSF, Mike Novogratz’s Galaxy Digital, and itech Capital. Investment bank Bryan, Garnier & Co. advised Bitfury on the process.

“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,” said Valery Vavilov, CEO and co-founder of Bitfury. “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.”

READ IN FULL

Article Categories:
News · News.bitcoin

Leave a Reply

Your email address will not be published. Required fields are marked *