BitFury raises $20m

BitFury, the Bitcoin Blockchain infrastructure provider and transaction processing company today, has secured $20 million in funding from investors including the likes of Venture Capital, iTech Capital and Georgian Co-Investment Fund.

The funds will be used to support BitFury’s accelerating growth and its technology and business expansion. The company has recently launched its new product, an energy-efficient 28nm ASIC chip and acquired Allied Control, an immersion cooling technology startup.

The company has also revealed plans to expand further into the Republic of Georgia by building a Techno Park that will host its new 100 MW data centre.

“Today, we are excited to announce we have secured a funding round of $20 million. The success of yet another funding round validates our business strategy and brings us closer to our ambitious goals,” said Valery Vavilov, CEO of BitFury.

“By providing liquidity in bitcoin via its wholly owned subsidiary, Cumberland, DRW aims to facilitate the widespread adoption of the distributed ledger technology,” added Don Wilson, Founder of DRW Venture Capital.

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