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Bitfury raises USD 80 mln to expand mining business

Wednesday 7 November 2018 00:58 CET | News

Bitfury Group, a cryptocurrency mining technology company, has just closed an USD 80 million funding round led by venture capital company Korelya Capital.

Also participating in the private placement were investors such as Mike Novogratzs Galaxy Digital, Macquarie Capital, Dentsu, Armat Group and others, according to a Bitfury press release.

Bitfury is best known for manufacturing processors and devices used for mining cryptocurrencies, and launched a new “Clarke” ASIC chip for Bitcoin mining in September 2018. It said at the time it plans a new range of miners based on the processor.

The tech company also capitalizes on its mining tech business by running crypto mining datacentres in countries such as Canada, Norway, Iceland and the Republic of Georgia. The new Clarke chip will being installed across these facilities as well.

Bitfury could also be eyeing going public via an IPO as a way of raising funds in late October 2018, according to CoinDesk. The company might list in Amsterdam, London or Hong Kong, possibly as soon as 2019, though a final decisions hasnt been made.


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Keywords: Bitfury Group, crypto mining, Bitcoin mining, funding round, cryptocurrency, blockchain, chips
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Countries: World