Crypto mining company Genesis Digital Assets – backed by Sam Bankman-Fried's fallen hedge fund, is reportedly considering an initial public offering (IPO) in the US as the crypto sector continues to grow. 😮

According to Bloomberg sources, Genesis Digital Assets is consulting with advisors about a possible stock offering. The mining company intends to initiate a pre-IPO funding round which is expected to begin in the coming weeks.

The company's IPO plans follow significant expansion activity this year. In May, Genesis Digital Assets opened a new mining center in Argentina, and before that, they announced a 36MW facility in Texas.

Currently, the company operates more than 500 megawatts of power capacity and 20 data centers in North America, Europe, Central Asia, and South America, which positions it as a leading crypto miner.

For those who don't know, Genesis Digital Assets comes from one of the first crypto mining companies and raised over $1 billion in funding from Alameda Research.

What do you think about Genesis Digital Assets' IPO plans? Come on, leave your comments below!#GenesisDigitalAssets#IPO #Crypto