“Mining built our foundation, but AI and decentralized tech will build our future — and Bitfury is stepping into that future with a billion-dollar commitment.”
One of Bitfury’s notable actions to date is the announcement of a $1 billion investment fund, which indicates a significant departure from Bitcoin mining.
Bitfury Group announces $1B shift to ethical tech investment, shown with Bitfury logo on X.
The company, which has been in the mining business for 14 years, is now concentrating on artificial intelligence, quantum computing, and decentralised systems, which are generating a lot of interest in the cryptocurrency market.
According to the corporation, the fund will debut in late 2025 and will be backed by early investments, a global network of partners, and its previous mining revenues.
According to Val Vavilov, CEO of Bitfury, the objective is to promote “ethical emerging technologies” that benefit people and foster enduring trust. He added that the organisation intends to spearhead this next stage of innovation and that decentralised systems and AI function well together.
Bitfury has prior expertise with the latest technologies. It co-founded Axelera AI, a rapidly expanding chip firm in Europe, and developed LiquidStack, a potent immersion-cooling technology for AI data centres.
This pivot’s timing is crucial. While Bitcoin’s price declined more than 26% from its record high, mining income has decreased due to a 52% increase in mining difficulty in just one year.
Many mining companies’ stock prices have therefore plummeted. In order to survive, other miners, such as Bitfarms, are also turning to AI.
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