According to Bloomberg, the mining company Genesis Digital Assets is exploring the possibility of an IPO in the United States.
Genesis Digital Assets (GDA) is exploring the possibility of an initial public offering (IPO) in the United States. According to Bloomberg, GDA is working with advisors to assess the potential listing on the stock exchange.
The company plans to initiate a pre-IPO financing round in the coming weeks. Discussions are ongoing, and details of the fundraising strategy may change.
Between 2021 and 2022, GDA received a $1.15 billion funding from Alameda Research, a company linked to Sam Bankman-Fried and FTX. The investment was used to cover operational expenses and to acquire ownership stakes directly from Genesis’ co-founders. In October 2021, Bankman-Fried joined GDA’s board of directors, only to resign a day before FTX filed for bankruptcy in November 2022.
GDA operates with a total power capacity exceeding 500 megawatts and a broad network of data centers spanning four continents, with 20 mining facilities located in North America, Europe, Central Asia, and South America.
