The global bitcoin donation marathone organized by BitFury Group and Georgian Co-Investment Fund is finished, says the BitFury press release. 

The bitcoin fundraising campaign announced by BitFury Group on 15 June has ended, says the company's press release. A special bitcoin wallet was used to collect donations that came from all over the world. Nearly 230 transactions took place, bringing over $64,000 for the victims of the Tbilisi flood. Valery Vavilov, CEO of BitFury stated the company was “proud that the bitcoin community has once again demonstrated its generosity and support”. 

Two-thirds of the money was moved to a special account created by the Tbilisi City Council to help the flood victims. The rest of the money was divided between the zoo and a dog shelter located in the capital of Georgia that suffered a great damage from the flood. The decision to donate money to the council and to the dog shelter was announced by BitFury in its interview to CoinFox almost a month ago. 

A disastrous flood hit Tbilisi on 14 June. Heavy rain in the neighbouring mountains caused flash flooding on the river Vere that flows into the Mtkvari (Kura) river and through the capital of Georgia. The water destroyed houses and swept away cars. It also destroyed enclosures in the local zoo, killing five workers and setting many animals, including hippos, bears and a lion free. 

On 10 July, BitFury Group secured $20 million in funding, one of the key investors being the Georgian Co-Investment Fund (GCF). It is not the first time that GCF invests in BitFury. It had already participated in an investment round in May 2014 for BitFury, providing $10 million out of the $20 million raised by the company in total. Its creator, former Prime Minister of Georgia Bidzina Ivanishvili faced criticism from several Georgian financiers for his investments in bitcoin. 

BitFury plans to build a Techno Park in Tbilisi that will host a new mega data centre. The centre will process transactions using BitFury latest generation ASIC chips. It will also implement the energy-efficient immersion cooling technology by Allied Control acquired by BitFury this January.


Alexey Tereshchenko