- Bitfury, one among Bitcoin’s earliest industrial miners, is exiting mining to transition into an funding agency.
- The corporate plans to deploy as much as $1 billion into AI and crypto startups beginning as early because the fourth quarter of 2025.
- Bitfury will focus its new technique on AI, quantum computing, and “clear decentralized methods,” citing synergies between AI and cryptography.
Bitfury, one among Bitcoin’s earliest industrial miners, is exiting mining to develop into an funding agency centered on “moral rising applied sciences,” together with synthetic intelligence and crypto.
The corporate said in a press launch that it plans to deploy as much as US$1 billion (AU$1.53 billion) into AI and crypto startups beginning as early because the fourth quarter of 2025. The capital will come from Bitfury’s previous mining operations, prior investments, and a community of outdoor backers, in accordance with the announcement.
This subsequent chapter unites mission-driven buyers and founders — individuals who have constructed with objective — to help the following technology of innovators who share that calling. Collectively we will align innovation with values and construct applied sciences that make folks extra unbiased, artistic, and free.
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AI Is Taking Over
Based in 2011, Bitfury was among the many first main Bitcoin miners and later spun out Cipher Mining (CIFR) and Hut 8 (HUT), which are actually the second- and seventh-largest publicly listed Bitcoin miners by market capitalisation, respectively.
However rising prices and community issue have pushed Bitfury and a number of other different miners to cut back or repurpose their infrastructure. As an example, IREN not too long ago shifted from BTC mining to AI, unveiling a cloud enterprise anchored by NVIDIA’s Blackwell GPUs.
Shifting on, Bitfury told Fortune it can focus its new funding technique on AI, quantum computing, and “clear decentralised methods”.
Vavilov stated the corporate sees “huge synergy between AI and decentralized methods” and added that self-sovereign identification options utilizing cryptography are a key goal space. The agency already has publicity to the AI sector by means of LiquidStack, an immersion-cooling enterprise for information facilities, and Axelera AI, a Netherlands-based chip firm it co-founded.
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