Sunday , January 29 2023

The mining company BitFury has closed an investment round of $ 80 million


BitFury, a cryptographic acquisition company, has announced an investment of $ 80 million in private placement, resulting in total funds earned by the company reaching $ 170 million since its Serial A series in 2014.

The county, according to an official press release, was headed by a Paris-based venture capital firm Korelya Capital. Mike Novogratz Galaxy Digital, Macquarie Capital, Dentsu Inc., Armat Group, and others also took part in the C funding phase at San Francisco Cryptography.
Greg Reven, Bryan, Garnier & Co's leading partner in Europe, who is also the sole financial advisor and placement agent for funding BitFury, noted that the latest investment is a global institutionalization blocking industry.

Currently BitFury Group employs more than 700 employees in 15 countries across North America, the EMEA and Asia. The company also operates cryptographic centers in Iceland, Canada, Georgia and Norway, offering hash powers to some of the world's largest mining teams. However, BitFury is best known for installing crypto mining equipment, and has just launched a new Clarke ASIC chip bitstream mining industry.

The company has also risked developing corporate and government applications for blockade and registered revenue of $ 500 million through its general operations.

Extension to AI
BitFury said it wants to allocate a $ 80 million fund to boost its global expansion and penetrate adjacent market segments, such as artificial intelligence (AI). However, the company did not disclose any important information about the types of projects it introduced with its new AI wings.
"The institutionalization of Blockchain and crypto-cultures, together with the potential of these new technologies, is a natural opportunity for expansion to Bitfury in 2019 and beyond," said Walter Vavilov, head of Bitfury, pointing to AI
The funding round is also after Bitfury has announced its plans to launch the first round of public offerings to generate $ 3 billion in public funding. The company's largest competitor, Bitmain, has already submitted its IPO request in Hong Kong, although criticism.

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