Austrian Bitcoin Miner May Seek an IPO on the London Stock Exchange in 2018
Are you an environmentally conscience stock investor looking to add some bitcoin exposure to your portfolio without fearing you might be melting the polar ice caps' A new 'green' energy cryptocurrency mining venture may soon be available for you to invest in.
The company already raised about $2.8 million in an initial coin offering (ICO) in November 2017, but now believes that listing its shares on an exchange will provide a more suitable venue to raise finds safely. 'I want investors to be able to invest in a company that is genuinely risky but that operates within a framework which is secure,' said Hydrominer Chief Financial Officer Davies Guttmann.
AIM is the LSE's venue for smaller companies to float shares with a more flexible regulatory system than is applicable on the main market. The Vienna-based miner plans to raise a 'double-digit million' sum, according to its CFO. 'We will not be able to raise nearly enough money than we could use.' He also added that a leading auditor has been invited to review the business and that it is profitable.
Austria's has over 2,000 small hydroelectric power stations, many of them derelict, making for energy cheap if you can tap into this unused potential. Hydrominer operates its mining rigs within modular shipping containers near the stations in the Alps. The company thus reportedly pays only about 4.5 cents a kilowatt-hour, estimated to be 85% lower than the average in the EU.
Hydrominer also claims to be in advanced negotiations to form joint ventures in Austria, Canada and eastern Europe. A partnership deal could be announced within months, according to the CFO. Longer-term, Hydrominer plans to be an infrastructure provider for others in the cryptocurrency industry, offering hardware, software and skills.
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The post Austrian Bitcoin Miner May Seek an IPO on the London Stock Exchange in 2018 appeared first on Bitcoin News.
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