Genesis Digital Assets (GDA) is considering an initial public offering (IPO) in the United States as the cryptocurrency industry's recovery gathers pace, and the company is currently working with advisers on potential listing plans, according to people familiar with the matter.
One of the people familiar with the matter said Genesis Digital Assets plans to launch a pre-IPO round of financing in the coming weeks. People familiar with the matter pointed out that the relevant discussions are still ongoing and the details of the financing plan may change.
Genesis Digital Assets can be traced back to one of the earliest cryptocurrency mining companies. Before FTX's collapse, the company had received more than $1 billion in investment from Alameda Research's venture capital arm. Genesis Digital Assets has 20 data centers in North America, Europe, Central Asia and South America, with a total power capacity of more than 500 megawatts. According to its website, the company has offices in Houston and Dubai.
Genesis Digital Assets was valued at $5.5 billion in a round of financing in April 2022. (Bloomberg)