Bithumb Preps for IPO with Corporate Restructuring and Spin-off

South Korean cryptocurrency exchange Bithumb has announced a significant corporate restructuring plan that will be completed by July 31, 2025. The company aims to streamline operations and manage risk by spinning off its non-exchange businesses into a new entity named ‘Bithumb A’. This strategic move is intended to position the company for a potential Initial Public Offering (IPO), either on the Korean market or Nasdaq in the near future. Bithumb’s net profit last year reached a remarkable $110 million, marking a significant 560% increase compared to the previous year.