Earlier this month BitFury, a major Bitcoin Blockchain infrastructure provider and transaction processing company, secured $20 million in funding from Russia’s iTech Capital, Georgian Co-Investment Fund and DRW Venture Capital.
No details of the deals were disclosed. BitFury declined to answer EWDN’s questions.
The raise, its third in two years, brings the company’s total to $60 million, double that of rival KnCMiner ($29 million) and over half of the total investment in mining infrastructure to date ($116.5 million), according to industry publication Coindesk.com.
Founded in 2011 by Valery Vavilov and Valery Nebesny, BitFury has management offices in San Francisco, Washington, D.C. and Amsterdam, as well as data-centers in Iceland and the Republic of Georgia.
BitFury has recently rolled out its energy-efficient 28 nm chip and acquired Allied Control – an immersion cooling technology startup. The company has also announced plans to further expand to the Republic of Georgia, which will host its new 100 MW data center.
“Blockchain is one of the most promising and disruptive technologies we’ve seen in the FinTech industry for the past 15 years. We’ve kept an eye on Blockchain since its inception and are confident in its global recognition and following success,” stated iTech Capital Managing Partner Gleb Davidyuk.
