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Genesis Digital Assets Backed by Alameda Research Considers IPO in US Amid Crypto Resurgence

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Crypto Potato
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Jul 3, 2024

Genesis Digital Assets, a crypto mining firm backed by Sam Bankman-Fried’s Alameda Research, is considering an IPO in the US. The company, which has expanded significantly this year, including opening new mining centers in Argentina and Texas, is consulting advisers for a possible listing and plans to initiate a pre-IPO funding round soon. Genesis Digital Assets operates over 500 megawatts of power capacity and has 20 data centers across various regions. The firm received over $1 billion from Alameda Research in several funding rounds. The crypto sector has seen a resurgence recently, driving Bitcoin’s price to an all-time high, despite the industry's challenges following the FTX and Alameda bankruptcy.

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