ASX-listed Fatfish Internet Group (ASX:FFG) has announced intentions to list its part-owned cryptocurrency mining operation on the London Stock Exchange.
FFG owns 51% of APAC Mining Corporation, which has established multiple crypto mining hubs in Malaysia. The company is also moving ahead with plans for a facility in Québec, Canada.
“The proposed listing presents the opportunity to raise significant capital to expand APAC’s already successful crypto-mining operation,” said Fatfish CEO Kin Wai Lau.
“By having the APAC shares publicly tradable, it will also allow the market to assign its own value or market cap to the APAC business which should positively reflect on the Fatfish financials,” he added.
Management of Fatfish and APAC Mining are in advanced discussions with prospective advisors, with the proposed listing expected to be completed within a 6- 9 month period.
FFG however did warn there can be no certainty the proposed London Stock Exchange admission will be completed and that the listing will be subject to the satisfaction of all legal and regulatory requirements.
In April it was revealed the Fatfish crypto mining business was producing approximately 2 Bitcoins and 8 Ethereum every week while operating at approximately 60% of its capacity.
At the time, the company said it expects mining operations to produce 170 Bitcoins and 690 Ethereum every year when running at 100% equipment capacity.