There is growing desire amongst many American companies to go public and Alameda Research-backed miner Genesis Digital is the latest to show its interest.
Genesis Digital Asset Works on its IPO
According to a Bloomberg report, Genesis Digital Asset is mulling the idea of an Initial Public Offering (IPO). People who are familiar with the matter but asked to remain anonymous noted that the company is currently engaging advisers concerning the potential listing. Genesis has started making plans for a pre-IPO funding round, which it plans to launch in the coming weeks. The same anonymous people confirmed that deliberations are still ongoing and this could impact on the fundraising plans.
Other details about the potential IPO are likely to be disclosed gradually as the deliberations come together
Notably, a number of other firms also recently showed their interest in going public very soon, with a significant percentage of them being Bitcoin mining firms. Northern Data AG is allegedly in talks with advisors for announcing an IPO in the United States. The IPO will combine its businesses in the data centers and Artificial Intelligence (AI) cloud computing sectors. Also, the crypto mining firm is seeking a valuation of $16 billion.
It is largely believed that Northern Data AG’s next step for the IPO is the listing of participating banks with the hope of getting a Nasdaq listing as early as the first half of 2025. The feasibility of achieving this feat within the timeframe is not yet known.
More Private Companies Eyes an IPO
Blockchain gaming and Web3.0 investment company Animoca Brands has also shown interest in going public in both Hong Kong and the Middle East. Like Northern Data AG, Animoca Brands is currently exploring the possibility of going public as early as next year. In this case, preliminary discussions with banks have already taken place but Animoca is yet to formally engaged any financial advisors for the process.
Besides Genesis Digital, the cryptocurrency exchange Kraken is also planning for an IPO that might go live early next year.
The rising interest of companies to go public reflects growing demand amongst crypto enthusiasts to hold shares of these different companies. In June, Coingape reported that equities in top crypto firms such as Circle, Kraken, and Chainalysis have seen strong trading activity.
Read More: Solana To Hit $1,000 On Perfect ETF Storm
✓ Share:
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
