![[bitfury logo.svg|300]] Website: [bitfury.com](https://bitfury.com) ### Introduction Bitfury Group, founded in 2011 by Valery Vavilov and Valery Nebesky, is a global technology company headquartered in Amsterdam, Netherlands, with additional offices in locations such as London, Dubai, and Washington, D.C. The company started as a Bitcoin mining hardware manufacturer and blockchain software provider and has since evolved into a diversified technology incubator focusing on ethical innovation in fields like cryptocurrency mining, blockchain solutions, and emerging technologies such as artificial intelligence (AI). While specific employee counts are not publicly disclosed in the latest data, Bitfury has established itself as a significant player in the blockchain ecosystem over its 14-year history. Its mission, as stated on its official website, is to shape the next generation of ethical innovation through advanced technology solutions ([bitfury.com](https://bitfury.com)). Bitfury remains a private company, with no public ticker symbol or listing on major stock exchanges as of the latest available information in 2025. Initially recognized for its role as one of the largest industrial Bitcoin miners outside China, the company has recently pivoted toward broader tech investments, signaling a strategic shift beyond traditional cryptocurrency mining to include AI and blockchain startups. This report focuses on Bitfury’s activities and technologies related to mining, reflecting its historical core business, while acknowledging its evolving focus. ### Key Products and Technology Bitfury has historically been a leader in Bitcoin mining hardware and infrastructure. Below are details of its key mining-related products and technologies based on available information: - **Bitfury Clarke ASIC Miner (Application-Specific Integrated Circuit Miner)** - **Type**: Hardware for Bitcoin mining - **Technical Specifications**: One of Bitfury’s earlier ASIC chips, offering a hashrate of up to 120 GH/s per chip with energy efficiency of around 0.2 joules per gigahash (J/GH), though exact specs for newer iterations are not publicly updated. - **Energy Source**: Typically powered by electricity from various sources, with a historical focus on leveraging low-cost and renewable energy in mining operations. - **Key Differentiators**: High efficiency and scalability for industrial-scale mining operations; Bitfury has emphasized sustainable energy use in its mining facilities. - **Development Stage**: Operational, with multiple generations of ASIC miners deployed since 2015. - **Target Customers**: Cryptocurrency mining farms, data centers, and institutional investors in blockchain infrastructure. - **Bitfury Tardis (Mining Server Solution)** - **Type**: Modular mining hardware solution - **Technical Specifications**: Supports up to 80 terahashes per second (TH/s) per unit with customizable configurations; exact power consumption and efficiency metrics for the latest models are not widely available. - **Energy Source**: Designed to operate with diverse energy inputs, often paired with renewable energy in Bitfury’s own facilities. - **Key Differentiators**: Modular design allows for scalability and adaptability to different mining environments; integrated cooling solutions for energy efficiency. - **Development Stage**: Operational, deployed in various mining facilities globally. - **Target Customers**: Large-scale mining operators and enterprises seeking turnkey mining solutions. - **Mining Infrastructure and Data Centers** - **Type**: Industrial-scale mining facilities - **Technical Specifications**: Bitfury operates data centers with significant computational capacity, though specific power output or hashrate figures for 2025 are not publicly detailed. - **Energy Source**: Emphasis on sustainable energy, with past operations utilizing hydroelectric and other renewable sources in regions like Canada and Georgia. - **Key Differentiators**: Focus on energy-efficient operations and strategic location selection for low-cost power access. - **Development Stage**: Operational, with facilities in multiple countries. - **Target Customers**: Internal use for Bitfury’s mining operations and potential third-party hosting services. Note: Detailed technical specifications and updates on newer products are limited in public sources as of 2025. Bitfury’s recent strategic shift toward AI and broader tech investments may indicate reduced focus on mining hardware innovation ([bitfury.com](https://bitfury.com)). ### Regulatory and Licensing Status As a cryptocurrency mining and blockchain technology company, Bitfury is not subject to nuclear regulatory oversight like the Nuclear Regulatory Commission (NRC). Instead, its regulatory landscape involves compliance with financial and environmental regulations related to cryptocurrency mining and data center operations in various jurisdictions. Bitfury has historically operated in regions with favorable regulatory environments for blockchain and mining activities, such as Canada, Georgia, and Iceland, often aligning with local energy policies to access renewable power. There are no widely reported regulatory hurdles or licensing milestones specific to Bitfury’s mining operations in 2025. However, the cryptocurrency industry faces ongoing scrutiny regarding energy consumption and environmental impact, which could affect Bitfury’s operations indirectly through regional policies on data center energy use. Bitfury has not publicly disclosed specific upcoming regulatory milestones or timelines for new mining deployments. Given its pivot to AI and ethical tech investments, regulatory focus may shift toward data privacy and AI governance in the future, though this is outside the scope of mining-specific analysis. ### Team and Leadership Bitfury’s leadership team includes key figures who have guided its evolution from a mining-focused entity to a broader technology incubator. Below are profiles of notable executives based on available data: - **Valery Vavilov (CEO and Co-Founder)**: A technology entrepreneur with a background in computer science, Vavilov has led Bitfury since its inception in 2011. He has been instrumental in positioning the company as a leader in blockchain and mining innovation, with a recent focus on ethical tech investments. - **Valery Nebesky (Co-Founder)**: Co-founder alongside Vavilov, Nebesky has contributed to Bitfury’s strategic direction, particularly in hardware development for mining. His current role is less publicly detailed in 2025 sources. - **Brian Brooks (Former CEO, Current Board Member)**: Brooks, who served as CEO until early 2023, brought expertise from his time as Acting Comptroller of the Currency in the U.S. and remains influential in strategic decisions, though his exact role in 2025 is unclear from public data. Specific X handles for these individuals are not verified or widely available in current public sources, so they are omitted. Leadership information beyond these key figures is limited in recent updates ([bitfury.com](https://bitfury.com)). ### Funding and Financial Position Bitfury has raised a total of $181 million over seven funding rounds from 40 investors, as reported in mid-2025 profiles ([Tracxn](https://tracxn.com/d/companies/bitfury/__1v4xjqV6u0XOnybqZUr-omTh6hDVIRrHNAaXnB0oRW4)). The most recent round details, including date and lead investors, are not specified in the latest public data. As a private company, Bitfury does not disclose market cap or stock performance metrics. Key institutional investors and strategic backers include firms like Galaxy Digital and other blockchain-focused venture capital entities, though updated lists for 2025 are not comprehensively available. In terms of revenue, Bitfury has been generating income from mining operations and hardware sales for years, though exact figures for recent performance are not publicly disclosed. The company’s announcement of a $1 billion investment fund for AI and crypto startups in November 2025 indicates significant financial capacity to pivot away from traditional mining revenue streams toward diversified tech investments ([Fortune](https://fortune.com/2025/11/18/bitfury-bitcoin-mining-launches-1-billion-initiative/)). ### Recent News and Developments | Date | Event | Details | |---------------|------------------------------------|--------------------------------------------------------------------------------------------------| | Nov 19, 2025 | $1B Fund Announcement | Bitfury launches a $1 billion fund for ethical AI and crypto startups, signaling a pivot from mining ([Cointelegraph](https://x.com/Cointelegraph/status/1990971024867819526)). | | Nov 18, 2025 | Ethical Tech Initiative | Plans to invest $200 million in the next year in self-sovereignty and quantum tech ([Fortune](https://fortune.com/2025/11/18/bitfury-bitcoin-mining-launches-1-billion-initiative/)). | | Jul 20, 2025 | Funding Update | Reported total funding of $181M over 7 rounds from 40 investors ([Tracxn](https://tracxn.com/d/companies/bitfury/__1v4xjqV6u0XOnybqZUr-omTh6hDVIRrHNAaXnB0oRW4)). | | Jan, 2025 | Strategic Review | Continued focus on diversifying beyond Bitcoin mining, though specific mining updates are scarce ([WEEX Crypto News](https://www.weex.com/news/detail/bitfurys-transition-from-bitcoin-mining-to-pioneering-tech-investments-233288)). | | Ongoing, 2025 | Mining Operations | Limited updates on active mining facilities or new hardware releases in 2025 public data. | Note: Recent news heavily emphasizes Bitfury’s shift away from mining toward broader tech investments. Mining-specific developments for 2025 are not widely reported. ### Partnerships and Collaborations Bitfury has historically partnered with various entities to support its mining operations, often focusing on energy providers and technology firms. However, specific partnerships related to mining in 2025 are not extensively documented in public sources due to the company’s strategic pivot. Past collaborations include: - **Energy Providers in Georgia and Canada**: Bitfury has worked with local energy companies to access low-cost hydroelectric power for mining data centers, enhancing cost efficiency. - **Technology Partners for Hardware Development**: Collaborations with semiconductor firms for ASIC miner production, though specific partners for recent years are not disclosed. The $1 billion fund announced in November 2025 may lead to new partnerships in AI and blockchain, but these are outside the mining focus of this report ([Bitget News](https://www.bitget.com/news/detail/12560605071214)). ### New Hampshire Relevance Bitfury’s mining technology and infrastructure have limited direct relevance to [[New Hampshire]]’s energy and compute needs as of 2025, primarily due to the company’s pivot away from mining and lack of expressed interest in the Northeast U.S. market. New Hampshire’s energy infrastructure, including proximity to [[Seabrook Station]] and the ISO-NE grid, could theoretically support data center operations for mining if Bitfury were to expand in the region. However, there are no indications of such plans in current data. Bitfury’s focus on sustainable energy aligns with New Hampshire’s legislative initiatives like HB 710, which could support SMR or renewable energy projects, but Bitfury’s mining operations are not directly tied to nuclear or grid power solutions for NH. Potential applications could include powering data centers for local industries or supporting grid stability through demand response, but Bitfury’s current trajectory suggests minimal focus on new mining deployments. No specific NH connections or Northeast U.S. interest has been reported. ### Competitive Position Bitfury faces competition in the Bitcoin mining sector from companies like [[Bitfarms]], [[Riot Platforms|[[Riot Platforms|Riot Blockchain]]]], and [[MARA|[[MARA|Marathon Digital Holdings]]]]. Compared to [[Bitfarms]], which is aggressively scaling energy infrastructure to 2.1 GW across the U.S. and Canada as of December 2025 (based on posts found on X), Bitfury appears less focused on expanding mining capacity, prioritizing tech investments instead. Riot Blockchain and Marathon Digital maintain strong mining hashrates and public market presence, areas where Bitfury, as a private entity, lacks visibility. Bitfury’s historical advantage lies in its energy-efficient ASIC designs and sustainable energy use, but its strategic shift introduces risks of losing ground in the mining sector to more focused competitors. ### Closing Note Bitfury is at a transitional stage, moving from a leading Bitcoin mining company to a broader technology incubator with a $1 billion fund for AI and crypto startups, suggesting a promising but less mining-centric future trajectory. (Note: No official RSS feed for Bitfury press releases or news was found on their website or through public search as of the latest data in 2025.) *Report generated December 24, 2025*