Genesis Digital Is Considering Going Public Via IPO In US: Report
Highlights
- Genesis Digital is considering going public via IPO route
- The firm's IPO talks is still limited to early talks with key partners
- The public listing move is now becoming a major trend in the industry
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
- Bitget US Stock Futures Trading Volume Surpasses $200 Million
- Binance Founder CZ Predicts Bitcoin Will Flip Gold’s $30 Trillion Market
- Trump Tariffs: U.S. President Threatens 155% Tariff on China, Bitcoin Falls
- Hassett Says Government Shutdown Could End This Week as Crypto Markets Brace for Inflation Data
- ‘Floki Is The CEO’: FLOKI Surges Over 20% After Elon Musk’s Name Drop
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
- Pi Coin Price Eyes 50% Upswing As AI-Powered App Studio Update Ignites Optimism
- Bitcoin Price Prediction as Gaussian Channel Turns Green Amid U.S.–China Trade Progress and Fed Rate Cut Hopes
- Solana Price Prediction: Analyst Notes Bearish Breakdown Amid Derivatives Slowdown
- Shiba Inu Price Eyes Recovery as Burn Rate Jumps 10,785% – Can SHIB Hit $0.000016?
- Ethereum (ETH) Price Prediction: Analyst Eyes $7,000 by Q4 as Bitmine Accumulates $281M ETH — Will History Repeat Itself?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
