Bitfury, a technology company established in 2011, has announced its transformation into an investment firm with the launch of a new $1 billion funding initiative. This initiative is dedicated to supporting ethical innovators globally.
The firm’s new mission focuses on bridging the perceived gap between rapid technological progress and the slower evolution of ethical development. Bitfury aims to support founders committed to embedding ethics, transparency, and human values at the core of emerging technologies. This pivot expands Bitfury’s role from a technology provider to a global catalyst for responsible innovation, intending to foster a digital economy built with integrity and long-term sustainability.
Bitfury originated as a Bitcoin miner and has developed a legacy as a pioneering technology company within the blockchain era. Over its 15-year history, it has incubated and spun out several companies. These include NASDAQ-listed Cipher Mining (CIFR) and Hut 8 (HUT), which began as Bitfury mining operations in the U.
S. and Canada, respectively. The company also established LiquidStack, an immersion-cooling technology for high-density sustainable computing in the AI era, and co-founded Axelera AI, a European leader in AI-chip and hardware design. These Bitfury-incubated entities now form core components of an energy-efficient modern computing infrastructure supporting AI, big data initiatives, and digital assets.
Further demonstrating its commitment to trust and accountability, Bitfury launched Crystal Intelligence, a crypto-compliance company. It was also a founding member of the Blockchain Alliance, a public–private partnership aimed at combating criminal activity involving Bitcoin and blockchain through education and technical assistance for law enforcement. To foster collaboration and education, Bitfury founded the Global Blockchain Business Council (GBBC).
Val Vavilov, Co-founder and CEO of Bitfury, stated, “Bitfury has always believed that technology must serve human progress. This next chapter unites mission-driven investors and founders — people who have built with purpose — to support the next generation of innovators who share that calling.” Vavilov added, “Our mission is to close the gap between innovation and ethics by acting as a catalyst for founders and investors building technologies that serve people and promote long-term resilience.”
George Kikvadze, Vice Chairman of Bitfury, commented, “Bitfury’s record of incubating and capitalizing technology leaders will now be applied to a new generation of science-driven ventures. We are aligning a network of mission-driven investors and founders who bring capital, expertise, and purpose to scale technologies that meaningfully advance humanity.” Jason Weinstein, director of the Blockchain Alliance and advisor to Bitfury, noted, “From day one, Bitfury has been a constructive partner in building the public–private trust that responsible innovation requires. Their next chapter — backing founders who align cutting-edge tech with ethical guardrails — is exactly the kind of leadership the world needs today.”
The $1 billion for this initiative has been secured through Bitfury’s previous operations, successful investments, and its network of investors. The firm plans to begin deploying these funds within the current year.
