Bitfury has launched a $1 billion funding initiative as part of its transformation from a bitcoin-mining pioneer into a global investment firm focused on accelerating ethical and human-centric emerging technologies. The company plans to begin deploying capital as early as the fourth quarter of 2025.
The initiative aims to address what Bitfury views as an expanding gap between the rapid pace of technological innovation and the comparatively slower pace of ethical framework development. By backing founders and investors who prioritize transparency, human values, and responsible development, the firm intends to play a catalytic role in guiding the digital economy toward long-term resilience and integrity.
Founded in 2011, Bitfury initially gained recognition as one of the earliest large-scale bitcoin miners but has since evolved into a significant technology incubator. The company helped launch several now-independent businesses, including Cipher Mining and Hut 8, both of which originated from Bitfury’s North American mining operations. Bitfury also developed LiquidStack, a leader in immersion-cooling technology for high-density AI infrastructure, and co-founded Axelera AI, a European chip and hardware innovator.
Bitfury also made notable contributions to public-sector collaboration and responsible blockchain development. It created Crystal Intelligence, a central crypto-compliance platform. It served as a founding member of the Blockchain Alliance, a public–private initiative that supports law enforcement through blockchain education and investigative tools. The company also founded the Global Blockchain Business Council to advance global knowledge and collaboration on distributed ledger technologies.
The firm has fully secured the $1 billion for its new initiative through capital from prior operations, successful investments, and a global network of aligned investors. Fund deployment is expected to begin this year as Bitfury takes on a broader role as an international backer of ethical, science-driven innovation.
KEY QUOTES:
“Bitfury has always believed that technology must serve human progress. This next chapter unites mission-driven investors and founders — people who have built with purpose — to support the next generation of innovators who share that calling. Together we can align innovation with values and build technologies that make people more independent, creative, and free.”
“Our mission is to close the gap between innovation and ethics by acting as a catalyst for founders and investors building technologies that serve people and promote long-term resilience. Throughout my life journey, I’ve focused on building systems that strengthen trust and empower humanity — and that’s the path Bitfury continues to follow today.”
Val Vavilov, Co-founder and CEO of Bitfury
“Bitfury’s record of incubating and capitalizing technology leaders will now be applied to a new generation of science-driven ventures. We are aligning a network of mission-driven investors and founders who bring capital, expertise, and purpose to scale technologies that meaningfully advance humanity.”
George Kikvadze, Vice Chairman of Bitfury
“From day one, Bitfury has been a constructive partner in building the public–private trust that responsible innovation requires. Their next chapter — backing founders who align cutting-edge tech with ethical guardrails — is exactly the kind of leadership the world needs today.”
Jason Weinstein, Director of the Blockchain Alliance and Advisor to Bitfury
