BitFury raises USD 20 mln in funding round

Wednesday 4 June 2014 13:18 CET | News

BitFury, a Bitcoin mining hardware manufacturer, has raised USD 20 million in new financing that will be used for international market, expansion while accelerating its production of ASIC, semiconductor and server products, coindesk reports.

Binary Financial, Crypto Currency Partners, Georgian Co-Investment Fund, Queensbridge Venture Partners and ZAD Investment Company were among the participants in the round.

Additional funding was provided by former Google employee, former General Catalyst managing director and Snapchat investor, Jonathan Teo, and Glyde and Scribd board member Bill Tai.

The funding round is one of the largest in the Bitcoin ecosystem to date, coming in below BitPay’s record-breaking USD 30 million Series A and equalling the USD 20 million round raised by secure storage and consumer wallet provider Xapo in March 2014.

BitFury operates Bitcoin mining operations, claiming extensive mining operations and data centers in Finland, Georgia and Iceland.

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Keywords: BitFury, Bitcoin, investment, funding round, mining, consumer wallet, secure storage, virtual currency, crypto-currency
Categories: Payments & Commerce
Countries: World
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