• Thu. May 23rd, 2024

Bitmain-Backed Crypto Mining Firm BitFuFu is Planning to Go Public in US

Hassan Mehmood

ByHassan Mehmood

Mar 4, 2022

Bitmain is one of the leading cryptocurrency exchange platforms in the world. The company recently invested heavily in a new cryptocurrency mining venture called BitFuFu. Recently, BitFuFu managed to secure a $1.5 billion evaluation following a merger. The other company that participated in the merger is a special-purpose acquisition organization.

BitFuFu offers several types of crypto mining solutions, and it seems that the company is planning to make big gains in the upcoming years. However, it is worth mentioning that during the current years, cryptocurrency proponents have aired their concerns about the PoW mining blockchains that require a big power input and purportedly generate a considerable amount of environmental pollution.

BitFuFu is planning to make headlines this year by applying for a public listing application at NASDAQ. Its partner merger corporation named Ariz Acquisition was already a public-listed enterprise with NASDAQ. Ariz Acquisition is also bringing $70 million in private investment in the form of committed equity.

Furthermore, two of the biggest crypto organizations backing the merger are Bitmain and its contemporary Antpool Technologies. BitFuFu originates from Hong Kong, and it is planning to be an all-in-one crypto mining solution provider for users across the globe. The company will also be able to bring a good number of consumers from population-dense demographics.

BitFuFu CEO and founder Leo Lu recently told the media that the ability to operate as a public listed enterprise is great timing in the current market. He further added that if the company can go through with the process successfully, it will cement its position as the industry leader and ensure exponential growth and opportunities.

Commenting on the merger with Ariz Acquisition, he claimed that the company is looking forward to working with new talent and making changes in the corporate governance infrastructure. Lu also pointed out that the company management has plans to increase transparency for stockholders. BitFuFu offers cloud mining, retail mining, and hosting for indie miners. The crypto investors can generate income through mining without having to deal with the equipment.

Hassan Mehmood

Hassan Mehmood

Hassan Mehmood, a valued writer at Big Trends Signals, uses his profound online trading expertise to produce in-depth guides and unbiased reviews, enabling traders to navigate digital marketplaces efficiently.

Leave a Reply

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

Skip to content