Bitfury Newsroom

According to Kyrylo Chykhradze, head of Bitfury’s Crystal, a software solution designed to track activity on the Bitcoin and Bitcoin Cash Blockchains, Crystal collects information about all the transactions recorded to the blockchain to determine which addresses belong to the same entity to identify criminal activities. As financial institutions and law enforcement begin to use tools such as Crystal, organizations can start to easily detect illegal activities happening across blockchain networks.

The Bitfury Group, a crypto mining and software company, has recruited two veterans of the traditional financial world to guide its strategy and growth. Revealed exclusively to CoinDesk, Antoine Dresch, co-founder of tech investment fund Korelya Capital (which led an $80 million funding round for Bitfury) and former executive at several major investment banks, will join Bitfury’s board of directors. At the same time, Annette Nazareth, a former member of the U.S. Securities and Exchange Commission, has joined Bitfury’s advisory board.

The Bitfury Group has added founder of Korelya Capital Antoine Dresch to its board of directors and Annette Nazareth, a former member of the U.S. Securities and Exchange Commission, to its advisory board.

The Bitfury Group has acquired a substantial minority stake in Final Frontier, a financial services firm that specializes in the blockchain industry. Final Frontier was founded by a group of seasoned investment professionals with decades of experience in the traditional financial services industry.

Allied Control Ltd., a wholly-owned subsidiary of the Bitfury Group, will participate this week in the SC18 conference, where it will exhibit its record-breaking solutions for ultra-high density high-performance computing (HPC) applications.

Cryptocurrency venture Bitfury raised $80 million from investors including the merchant bank founded by billionaire ex-Goldman Sachs Group Inc. partner Mike Novogratz. The private placement was led by Korelya Capital, a European investor backed by Korea’s Naver Group, according to a statement from Bitfury. Other participants include Novogratz’s Galaxy Digital and Europe-based firms Jabre, Lian Group and Armat Group. Bitfury was valued at more than $1 billion in the deal, according to people familiar with the matter.

Trendalyze Inc. and the Bitfury Group today announced plans to integrate Bitfury’s Crystal blockchain analytics service into Trendalyze, a micro-trends analytics, monitoring, prediction and search platform.

Anyone who’s ever bought or sold a home knows how expensive and drawn out that can be. Other countries are moving to blockchain-based deeds faster, often because their land registries are less reliable and there’s rampant fraud, or because data are centralized nationally thus easier to change. Startup Bitfury Group, for example, has already helped register more than 300,000 titles in the Republic of Georgia on the Bitcoin blockchain.

The Bitfury Group announced today the release of version 1.6.0 of its Crystal Blockchain Analytics tool, which adds analytical support for Bitcoin Cash and improved user functionality.

The Bitfury Group announced today it is partnering with PatentBot to use blockchain to digitally timestamp copyright documents, providing a secure and permanent way to prove authorship and protect intellectual property. PatentBot is a bot-registrar of trademarks, which can reduce the time it takes to file documents to less than 10 minutes. The integration of blockchain into its services will help streamline and secure the complicated copyright system. To obtain a copyright, creators must prove their primacy in bringing the idea to life and that they have a verifiable record of the date and content of the work.