Bitfury Has Raised $80 Million In Investments

Company Bitfury has raised $80 million in private round of investment. The received funds will be used for the development of the Russian representative office of the company. Earlier media reported that Bitfury is considering an IPO.

The international company Bitfury Group, which produces hardware and software for mining, attracted $80 million investment in the closed round.

The leading investor was the European venture fund Korelya Capital. Also, the round was attended by Korean company Naver Group, Macquarie Capital funds and Dentsu, investment company Armat Group, Fund managers Jabre and Lian Group, insurance group MACSF and cryptocurrency Bank Galaxy Digital of investor Mike Novogratz.

According to the company, investments will be used to strengthen top management, Finance strategic projects and strengthen positions in the market. In addition, part of the funds will be used to expand the staff of the Moscow office, opened in March this year.

In late October, Bloomberg reported that Bitfury is considering an IPO on the stock exchanges of Amsterdam, London and Hong Kong in early 2019. The company expects a capitalization of $3 to $5 billion.