Blockchain.com Targets $500M IPO Valued at $4B-$6B

Blockchain.com Group Holdings is planning to complete an initial public offering (IPO) by year-end, targeting a raise of approximately $500 million at a valuation of $4 billion to $6 billion. The U.S.-based company has already confidentially filed IPO paperwork with the SEC and achieved profitability on an adjusted basis for three consecutive years.

The listing plan comes as cryptocurrency markets recover from last year's plunge, with Bitcoin gaining 33% since mid-August. This move is seen as an attempt to capitalize on the market's recovery phase.

Blockchain.com has a long history dating back to 2011, initially launched by three participants from 'Bitcoin Talk' to track transaction activity on the Bitcoin blockchain. The company has raised $537 million in equity capital to date and was valued at less than half of its previous peak of $14 billion in spring 2022.

If the listing proceeds, it will test institutional investor demand following a turbulent cycle of crypto-related public offerings. The move represents a renewed push into public markets since Blockchain.com first explored a listing in 2022.