From The Bitfury Group Newsroom

Bitcoin mining giant BitFury is stamping its zero-carbon footprint intentions on the Bitcoin network with the design completion and tape-out of its 16nm transaction processing ASIC (application-specific integrated circuit).

Green Bitcoin mining is the future. At the Block Chain Summit on Necker Island in May of this year, BitFury disclosed its development of a potentially highly disruptive approach to wind-power generation.

Blockchain infrastructure provider and bitcoin mining company BitFury Group has weighed in on the ongoing block size limit debate with its latest research report. As it is, some members of the bitcoin network are saying that the current block size has been limiting the amount of transactions that can be handled.

CEO Valery Vavilov told CoinDesk: "We think that the block size debate must be resolved by consensus and the voting mechanism introduced in BIP 100 is a good way to achieve such a consensus ... The power to make such future defining decisions must belong to the community."

When you are from an area stricken by conflict and you have no proof of existence, easily transfering money can be nearly impossible. However, that didn’t stop this woman from funding her female-focused educational project in Afghanistan. Instead of fiat currency and traditional remittance services, she used Bitcoin and became an example that inspired Nicolas Cary, co-founder of Blockchain.info.

Bitcoin companies have often been proactive when it comes to collect fund and help the victims of natural calamities whether it is earthquake in Nepal or Ebola in Africa. This time it is flood victims in Tbilisi who are going to be helped by BitFury Group and Georgian Co-Investment Fund. The two organizations have raised over $64,000 in Bitcoins during the global fundraising campaign.

The funds raised as a result of the global bitcoin fundraising campaign have been donated to the Tbilisi City Hall, Tbilisi Zoo, and Tamaz Elizbarashvili’s Dog Shelter.

DRW Venture Capital, iTech Capital and the Georgian Co-Investment Fund participated in the round. The company has raised $60 million to date over three rounds.
CEO Valery Vavilov co-founded the San Francisco-based company in 2011 to become a leading bitcoin blockchain infrastructure provider and transaction processing company. The startup just rolled out its “high-performance” 28-nm chip and recently acquired immersion cooling tech startup Allied Control. BitFury also announced plans to further expand operations in the Republic of Georgia with a new data center it’s calling the “Techno Park.”

BitFury Group, the leading Bitcoin Blockchain infrastructure provider and transaction processing company today announced it secured $20 million in funding. Investors participating in the round included DRW Venture Capital, iTech Capital and Georgian Co-Investment Fund.

BitFury Group, a well-established Bitcoin blockchain infrastructure provider and transaction processing company, just announced it raised $20 million in funding with participation from DRW Venture Capital, iTech Capital and Georgian Co-Investment Fund.
“The success of yet another funding round validates our business strategy and brings us closer to our ambitious goals,” said Valery Vavilov, CEO of BitFury. The company added in a press release that it intends to use the $20 million to support accelerating growth into technology and business ventures related to the Bitcoin blockchain.

BitFury, the best capitalized mining firm in bitcoin, today announced it has raised an additional $20m in funding.

The raise, its third in two years, brings the company's total to $60m, double that of rival KnCMiner ($29m) and over half of the total investment in mining infrastructure to date ($116.5m).