BitFury Archives | Digital Money Times

Bitfury Is Implementing Lightning Into Crypto Payment Platform Paytomat

December 5, 2018 By Mark Lyford Leave a Comment

The Bitfury Group has recently announced a partnership with crypto payment processing system Paytomat, working to bring the Lightning Network to Paytomat’s participating merchants.

According to a recent Medium post made by LightningPeach, “Bitfury’s in-house specialized Lightning Network engineering team,” the Bitfury Group is pouring its resources into Paytomat’s wallet and vendor system, enabling “users and merchants on the Paytomat system to send and receive bitcoin payments over the Lightning Network almost instantly.”

“Both Bitfury and Paytomat participated in the Blockchain Expo in Amsterdam in June, and, after meeting, we began discussing our potential partnership opportunities,” Pavel Prikhodko, the head of LightningPeach, told Bitcoin Magazine. Read more...

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Bitfury Acquires Minority Stake in Final Frontier, Aims To Expand Services

November 14, 2018 By Mark Lyford Leave a Comment

The Bitfury Group has acquired a minority stake in blockchain services firm Final Frontier. Both organizations are looking to utilize each other’s knowledge and experience in the traditional and digital finance spaces to potentially release a new line of financial products and services designed to assist professional investors in getting their hands on digital assets.

“Our mission is to be the bridge for institutions from traditional finance to enter this innovative asset class,” said Final Frontier co-founder Imraan Moola in a public statement. “Bitfury’s technological expertise, combined with our financial markets know-how and track record will allow us to create unique and differentiated financial products and solutions to service our sophisticated investor base.” Read more...

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Crypto Mining Giant BitFury Raises $80 Million in Private Placement

November 7, 2018 By Mark Lyford Leave a Comment

BitFury, a crypto mining company, has announced the closing of a private placement investment of $ 80 million, bringing the total funds raised by the firm to $ 170 million since its Series A round in 2014. The round, according to an official press release, was led by a Paris-based venture capital firm Korelya Capital. Mike Novogratz’s

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Bitfury Secures $80M in Private Funding Round

November 7, 2018 By Mark Lyford Leave a Comment

Cryptocurrency mining firm Bitfury Group has closed a Series C, $ 80 million funding round led by EU-based Korelya Capital. The round also included crypto merchant bank Galaxy Digital, Lian and Jabre Group, Dentsu Inc., Armat Group and others.

Bitfury is a diversified blockchain company known for its expertise in developing high-performance computing technologies, processing capabilities and advanced blockchain-based solutions for companies and governments, including the development of a blockchain-based land registry in Ukraine.

The funding round will be used by the company to enrich its software and hardware development, as well as explore other technologies that are emerging alongside the blockchain. Read more...

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Bitfury May Be Mulling Over an IPO

October 27, 2018 By Mark Lyford Leave a Comment

Bitfury, a leading mining firm and blockchain software company, is reportedly in talks with global investment banks in Europe and Hong Kong as it mulls an Initial Public Offering (IPO), according to Bloomberg sources close to the matter.

The source also indicated that Bitfury is mulling other strategic options alongside the IPO, including debt financing or selling a partial stake in the company. If the mining giant does hold an offering, it’ll reach for an estimated $ 3 to $ 5 billion valuation. The offering, which could begin trading as early as next year, could mark Europe’s first public offering by a cryptocurrency company. Read more...

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Mining Firm Bitfury Debuts New ASIC Chip

September 20, 2018 By Mark Lyford Leave a Comment

Bitfury has announced the release of a new Application-Specific Integrated Circuit (ASIC) chip, as well as a new generation of its Bitcoin mining hardware. The Bitcoin mining firm plans to integrate its new offerings across many of its data centers around the globe.

Bitfury’s New Catalog of Bitcoin Mining Hardware

The company announced the launch in a blog post published on September 19th. According to the announcement, Bitfury is releasing a new ASIC chip as part of a new catalog of BTC mining hardware.

Commenting on the launch, Bitfury CEO Valery Vavilov said: Read more...

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Bitcoin Mining Giant Bitfury Trims Cooling Demands by 95% with ‘Magic’ Liquid

September 6, 2018 By Mark Lyford Leave a Comment

With cryptocurrency markets struggling, Bitfury Group has immersed its mining equipment in a non-conducive liquid to reduce costs at its 40-megawatt mining plant in Tbilisi, Georgia, as it races to mine the remaining 21 million mineable bitcoins. The company’s investment in cooling technology signals the extent cryptocurrency miners are going to chill their energy-intensive computers,

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Bitfury Integrates Java, Allows for Private Chain Anchoring to Public Networks

June 20, 2018 By Mark Lyford Leave a Comment

Mining firm and blockchain software service company Bitfury wants to expedite blockchain development for traditional enterprise and business. Working toward this goal, the company announced today that it’s introducing Java binding for its blockchain service, Exonum. The soon-to-be-available binding comes with a software development kit that will allow developers to build private chains on Exonum that can be anchored to public blockchains, the press release notes.

In computer science, binding allows a library of data written in one coding language to interact with libraries written in another coding language. For Exonum, which is written in Rust, it means that developers can now build on the network using Java. Ultimately, this will allow Java developers to create private blockchains on top of Exonum’s framework. Read more...

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Bitfury: Private Blockchains Are Intermediate Step for Governments

April 19, 2018 By Mark Lyford Leave a Comment

Bitfury was one of the first companies built around the process of bitcoin mining, but the startup also now works on private blockchain software. Some would assume this might have a negative impact on the bitcoin-focused aspects of their business. But, while it’s true that the development of private, permissioned ledger systems means there could be less activity on public blockchains over the short term, Bitfury views private blockchains as an intermediate step for governments and other large entities to use public blockchains like Bitcoin. Read more...

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Bitfury Expands to Norway With $35 Million Bitcoin Data Center

March 25, 2018 By Mark Lyford Leave a Comment

Bitcoin mining giant and blockchain tech provider Bitfury is branching out to Norway. After meeting with government officials and partnering with local business leaders, the company is opening the doors of its new energy-efficient, data-mining center, in which executives have already invested $ 35 million.

The center is stationed in the Mo Industrial Park in the town of Mo i Rana and is expected to create roughly 30 new jobs for local workers.

CEO Valery Vavilov explained that the country’s innovative spirit and “favorable tax code” made Norway a top pick for Bitfury’s future expansion: Read more...

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BitFury Group Explores Georgia’s Bitcoin Potential

September 29, 2015 By JP Buntinx Leave a Comment

When people are talking about Bitcoin, the country of Georgia does not immediately come to mind. Which is rather strange, as Georgia is working hard to become a favourable location for Bitcoin companies, as well as other international technology players. BitFury Group recently installed a brand new data center in the country, which has been attracting quite a bit of interest from all over the world. Read more...

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Green Innovations Award for Bitfury’s Allied Control

May 31, 2015 By JP Buntinx Leave a Comment

In one of our recent articles, we talked about Allied Control and how their immersion cooling could shake up the world of Bitcoin mining as we know it. That being said, Allied Control’s immersion cooling solution has caught the attention of other industries as well. So much so that the company has even won the Green Innovations Award.

Immersion Cooling in Bitcoin Mining

The term “Bitcoin mining” is a topic of heavy debate just lately, and not just because of the lack of profitability. The hardware necessary to mine Bitcoin is not only expensive, but it also uses a ton of electricity to complete the computational calculations required to “mine” chunks of a Bitcoin. Read more...

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Is Immersion Cooling The Future of Bitcoin Mining?

May 27, 2015 By JP Buntinx Leave a Comment

The world of Bitcoin mining is in a bit of an odd state right now, which can be partially attributed to the lower Bitcoin price. On top of that, the mining difficulty is going up again, which means existing hardware will earn you less BTC per day. If this trend keeps up, we will need to come up with additional ASIC hardware, or find a way to make current mining hardware more efficient. Making ASIC chip cooling more energy efficient would be one way to go. Read more...

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Sir Richard Branson To Host Blockchain Summit on Necker Island

April 28, 2015 By JP Buntinx Leave a Comment

Just recently, we talked about the possibility of using Bitcoin to venture into space with Virgin Galactic. But, it seems that Sir Richard Branson – owner and CEO of Virgin Galactic – sees more in Bitcoin than just a payment method. In fact, he will be one of the hosts for Blockchain Summit, an event taking place at the end of May, inviting experts on the blockchain, digital currency, and Bitcoin. Read more...

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Can BitFury Crack The Code To Make Bitcoin Cloud Mining Profitable Again?

February 3, 2015 By JP Buntinx Leave a Comment

BitFury, one of the world’s biggest brand names when it comes to Bitcoin mining hardware manufacturing, is looking to shake up the current cloud mining ecosystem. Rumours about this “change of direction” have been announced about a week, ago, and now that BitFury has purchased cooling specialist Allied Control, it looks like the company is one step closer to breaking ground in the world of Bitcoin cloud mining.

Bitfury – The Foundation of the Bitcoin Ecosystem

CoinSummit London 2014 : Roger Ver & Garrick Hileman Bitcoin Quotes

July 14, 2014 By JP Buntinx Leave a Comment

Welcome / The future Is Ours

We are starting off CoinSummit 2014 with a word of welcome by Pamir Gelenbe, who is glad to see us all. This is the third CoinSummit by the way, I really thought it was only the second. Learning new things already!

So much has happened since the previous CoinSummit event in London, such as regulation, hashrate, wallet service growth, …. we are still in the very early days though. Bitcoin transaction volume is growing slowly too, but it might be a bit too slow, depending on how you look at it. Read more...

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