Bitfarms is Set to Have its IPO in Canada

Bitfarms is Set to Have its IPO in Canada

An Israeli owned crypto mining company, headquartered in Canada, Bitfarms has announced plans to become a publicly traded entity in Canada. The mining company, Bitfarms recently made it known that it has plans to conduct an IPO so it can become a public traded company in Canada.

Bitfarms Filed with Ontario Securities Commission

Based on a recent press release, the company made it known that a preliminary prospectus was recently filed by it with the Ontario Securities Commission. This is its first steps towards having its shares publicly traded on the Toronto Stock Exchange.

The press release made it know that the company currently has it stocks listed on the Tel Aviv Stock Exchange.
Regarding its listing in Canada and not in Israel alone, the company’s boards are of the notion that the Canadian capital market, will be of great benefit to the company. The report made it known that the Canadian capital market has raised “over CAD$54B in equity capital during 2017″ and through greater visibility, ”and provide better research analyst coverage, trading volumes, and improved access to North American capital markets.”

Lesser Operational Fees

Importantly, the company noted that once listed as a publicly traded country, the company will start paying lesser fees for running its operation across Canada.

The CEO Bitfarms, Wes Fulford, has also made some comments regarding this latest development, he made it known that the listing is aimed at giving the company more visibility and an increased access to funds to run its operations.

He stated that:
“Our analysis suggests that Canada has one of the most active public markets in our emerging industry, with several blockchain infrastructures and cryptocurrency mining companies having listed and raised significant capital over the last twelve months.”
It is important to note that there have been several news of mining farms and chip manufactures trying to have their stocks listed on serial exchanges across the world recently. However, a large majority of them have had one problem or the other. Hopefully, Bitfarms’ IPO will go smoothly.