BitFury Reveals New Details About $100 Million Bitcoin Mine
BitFury will invest $100m in building a 100MW bitcoin mining data centre in Georgia, according to a new report by local news source Agenda. To be built in the country's capital city of Tbilisi, the data centre will be the bitcoin transaction processor's second in the Eurasian nation, complementing a 20MW data centre based in Gori. The data centre was first announced in July, following the news BitFury had raised $20m in venture capital to both build the facility and complete a roll out of its 28nm bitcoin mining ASIC. While construction of the facility began in early August, the company....
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BitFury has completed manufacturing their new 28nm Bitcoin ASIC miner chip. This a big step from their current 55nm chip. BitFury had a great 2014 bringing in $40 million in venture capital funding. Valery Vavilov, the CEO of BitFury, has also made moves to other parts of the Bitcoin industry partnering with BitGo and looking beyond just processing Bitcoin transactions. Also Read: Bitcoin Mining Company BitFury to Acquire Allied Control For Immersion Cooling. The details of the chip have been discussed since last fall. The current spiking of the global hash rate speculation is that it was....
BitFury's new product, a light bulb that can mine bitcoin, garnered a lot of attention via Reddit a few days back as attendees of the Blockchain Summit started posting photos online. This event is an informal four-day gathering of the industry leaders in Richard Branson's Necker Island. "We believe that the project's focus should not be on making money from bitcoin mining, but on creating innovative solutions with main purpose to use this product for educational purposes and fun," said BitFury CEO Valery Vavilov. How to Mine Bitcoin. Bitcoin startups have been working on ways to find uses....
Credit China Fintech Holdings Ltd., a Hong Kong-based industry investment firm has entered a $30 million agreement with bitcoin- and blockchain-industry giant BitFury. The deal will see an investment in Bitfury shares and a new joint-venture effort focusing on the Chinese market. An announcement [PDF] by BitFury reveals that Credit China Fintech will aid the industry firm to maximize “the adoption of the Bitcoin Blockchain and private Blockchains” into Credit China’s various FinTech investments and platforms. A report by CNBC points to further details about the joint venture to be a....
BitFury Early Gen Units. BitFury has been on a roll this year with over $40 million in venture capital funding, as well as the addition of Jonathan Teo and Dr. Jackson Hu to their Strategic Advisory Board. To top it all off they added President and Chief Strategy Officer for Samsung Electronics Young Sohn to their Advisory Board. BitFury has emphasized that they are not a mining company, but a technology company: BitFury has set their sites on being more than a chip maker. With all this in mind, we were able to ask BitFury CEO Valery Vavilov through email about their next gen Bitcoin ASIC....
Bitfury current holds 37.2 million shares of Hut 8.