Cryptocurrency Mining Company Bitfury Secures $80 Million from Asian and European Investment Firms

Bitfury, an award-winning blockchain and crypto-mining company founded in 2011, is a company known to provide excellent computing technologies and processing capabilities as well as designs of some of the sophisticated software solutions that governments and large corporations use to deploy practical blockchain solutions.

2018 has been a great year so far as the company has achieved major milestones in its rapid growth. Earlier in the year, the company launched the Bitfury Clarke ASIC, their sixth generation of chip design and Bitfury Tardis, a new series of exceptional computing servers. Since production, the products have helped to boost the performance of the company’s own offering called the Bitfury BlockBox.

Bitfury has also helped in the fight to preserve mother earth for mankind by reducing its energy consumption with its data centers which are powered by renewable energy. And it didn’t stop there, the company also ranks as the world leader in immersion cooling technology – an excellent computing solution that helps reduce data center electricity use.

No wonder investors from far and wide actively participated in closing the company’s $80 million private placement.

The private placement which pulled a number of Asian European financial organizations was led by the European growth capital firm called Korelya Capital (a firm backed by Korean digital giant Naver Group). The investors who participated in the placement are the Asian financial institution Dentsu Inc., special situations investment firm Argenthal Capital Partners, Macquarie Capital, European investment company Armat Group, insurance groups MACSF and Foyer, Galaxy Digital (a digital assets merchant bank governed by Mike Novogratz), European fund managers Jabre and Lian Group, and iTech Capital (an Eastern European tech-specific private equity company and remarkable investor in Bitfury.

The success story of the $80 million private placement would be incomplete without noting that Bryan, Garnier & Co. – a European technology investment bank – advised Bitfury on the multi-million dollar private placement.

According to the CEO and co-founder of Bitfury, Valery Vavilov, this year has been one of unbelievable expansion for the company and closing the private placement shows how much they have achieved so far. It also shows their ability to handle adjacent market segments in quality computing solutions and emerging technologies such as artificial intelligence (AI).

The executive vice chairman, George Kikvadze, added that the success of the private placement is as a result of investors’ belief that Bitfury is in the right position to lead the industry into a new period of continued growth. According to Kikvadze, the private placement will catapult the company to the next level and widen their financial strategic options while keeping them in the ideal position for their next phase of growth in the industry.