BitFury Group, the leading mining hardware producer and transaction processing company announced closing of another funding round which secured $20 million. Key investors included DRW 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. Valery Vavilov, CEO of BitFury said:
As independent sources of market data report, BitFury has recently tripled its market share and keep increasing its computing power in the Bitcoin network. According to the same source, BitFury now processes more blocks than all of the private entities combined.
BitFury Group has recently launched a series of bold initiatives, such as building a Techno Park that will host a new mega data centre in Tbilisi, Republic of Georgia. 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.
Gleb Davidyuk, Managing Partner of iTech Capital said: