Bitfury Has Just Closed an $80 Million Dollars Funding Round

The popular cryptocurrency mining tech firm Bitfury has recently closed an $80 funding round that was led by the venture capital firm known as Korelya Capital. Other investors participating were Galaxy Digital, Macquarie Capital, Dentsu Inc., Armat Group and many others. The information was released in a press release on November 6.

Bitfury has closed an $80 million private placement – led by @korelyacapital and joined by many others including Armat Group, Macquarie Capital, Lian Group, Jabre, Dentsu Inc., Foyer, MACSF, Argenthal Capital Partners, @novogratz @co_garnier and more. https://t.co/SnX0u0Pbp5

— The Bitfury Group (@BitfuryGroup) November 6, 2018

According to George Kikvadze, Bitfury’s executive vice chairman, the company is one of the leading B2B blockchain infrastructure providers all over the world. Bitfury manufacturers processors and devices that can be used to perform crypto mining activities. Back in September, the company launched the new ‘Clarke’ ASIC chip.

The firm employs 700 individuals in 15 different countries distributed in North America, EMEA, and Asia. At the same time, it operates 5 data centers that are located in Iceland, Canada, Georgia, and Norway.

With the funds gathered by the company, the intention is to support growth and improve its technology expertise and expand in other markets such as AI. Binance, another popular crypto mining company is also starting to invest in artificial intelligence.

Bryan, Garnier & Co, acted as Sole Financial Advisor and Placement Agent for the Bitfury group. On the matter, Greg Revenu, Managing Partner of Bryan, Garnier & Co. commented:

“As the marketing is maturing, we are witnessing an acceleration in the adoption of blockchain technologies throughout the world, in all domains, at both corporate and governmental level.”

Revenu said that the investments position the company as the world leading B2B technology infrastructure provider. Bitfury wants to help companies become more transparent and trusted by using blockchain technology.

Mike Novogratz, CEO of Galaxy Digital, said that they are impressed with the team behind Bitfury. Moreover, he said that they are also very excited about the company’s vision, technical expertise, and global reach. He explained that it will be very important for the company to leverage these capabilities and grow in the crypto and blockchain market.

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