BitFury receives $20 million

Posted Jun 2, 2014

BitFury is a Bitcoin infrastructure provider company that has raised $20 million in funding from investors like Binary Financial, Crypto Currency Partners, Georgian Co-Investment Fund (GCF), Queensbridge Venture Partners and ZAD Investment Company.  Angel investors Bill Tai and Jonathan Teo also participated in this round.

BitFury will be using the funding to build out facilities in strategic international locations and to accelerate production of next generation bespoke semiconductors. BitFury sells ASICs, complete servers, and hosted/managed solutions to professional cryptocurrency mining companies. BitFury also runs one of the largest Bitcoin mining operations through data centers in Finland, Iceland, and the Republic of Georgia.

?The success of this funding round validates our strategy and brings us closer to our aspiration of becoming the world?s first publicly listed Bitcoin company. This investment will further accelerate our growth, and we are excited to strengthen our industry leadership with next-generation hardware and services,? stated Valery Vavilov, CEO of Bitfury.

Founded in 2011, The BitFury Group is based in San Francisco and Amsterdam.