Genesis Digital is contemplating the possibility of going public, highlighting the increasing trend of crypto platforms in the United States.
Many American companies are increasingly interested in going public, and Genesis Digital, a miner backed by Alameda Research, is the most recent to demonstrate its interest.
Genesis Digital Asset Works’ initial public offering
According to a Bloomberg report, Genesis Digital Asset is contemplating an Initial Public Offering (IPO). The company is currently consulting with advisers regarding the prospective listing, according to individuals who are knowledgeable about the matter but requested anonymity. Genesis has initiated preparations for a pre-IPO funding round, which it intends to implement shortly. The ongoing deliberations may affect the fundraising plans, as confirmed by anonymous individuals.
Additional information regarding the prospective IPO will be disclosed slowly as the discussions progress.
Several other companies have recently expressed interest in going public shortly, a substantial proportion being Bitcoin processing firms. Northern Data AG is purportedly in discussions with advisors regarding the announcement of an initial public offering (IPO) in the United States. Business operations in the data centers and Artificial Intelligence (AI) cloud computing sectors will be amalgamated under the IPO. Additionally, the crypto mining company is aiming to achieve a valuation of $16 billion.
It is widely assumed that Northern Data AG’s subsequent action in the context of the IPO will involve the listing of participating institutions to achieve a Nasdaq listing by the first half of 2025. It needs to be determined whether it is feasible to accomplish this feat within the designated timeframe.
Additional private companies are considering an initial public offering (IPO). Additionally, Animoca Brands, an investment company specializing in blockchain gaming and Web3.0, has expressed interest in conducting an IPO in Hong Kong and the Middle East. Animoca Brands, similar to Northern Data AG, is investigating the feasibility of going public as early as next year. In this instance, preliminary discussions with banks have already occurred; however, Animoca has yet to engage any financial advisors to assist with the process formally.
In addition to Genesis Digital, the cryptocurrency exchange Kraken is also preparing for an IPO that could be launched in the early part of the following year.
The growing demand among crypto enthusiasts to own shares of these various companies is reflected in the increasing interest of companies in going public. Coingape reported that equities in prominent crypto firms, including Circle, Kraken, and Chainalysis, experienced robust trading activity in June.
