Bitfury is evaluating an initial public offering (IPO) as a financing option, with the potential to become Europe’s first crypto-related project to secure funding in this way. The move resembles the decision of Bitmain to seek a stock exchange listing and sell stock to a wider investor base in early 2019.

The crypto mining startup is still in the exploratory stages, reaching out to investment banks, Bloomberg reported, citing unnamed insiders. Bitfury, which declined to comment for the news agency, may pursue other financing options, including debt issuance of debt or a stake sale. It is aiming for a valuation of between $3 billion and $5 billion, much smaller com…

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