![[bitfury logo.svg|300]]
Company website: https://bitfury.com/
### Introduction
Bitfury Group, a full-service blockchain technology company pioneering in security, infrastructure, and emerging technologies, was founded in 2011 by Valery Vavilov and Valery Nebesny. Headquartered in Amsterdam, Netherlands, with additional offices in London, Dubai, and Washington D.C., the company's mission is to develop and provide infrastructure solutions for blockchain, high-performance computing (HPC), and artificial intelligence (AI), enabling secure asset movement across blockchains and innovative applications for governments and enterprises.
Bitfury's key focus areas include blockchain-as-a-service platforms, energy-efficient HPC with immersion cooling, AI-integrated solutions, and investments in digital asset infrastructure such as Bitcoin mining. Originally a leader in Bitcoin mining hardware, the company has diversified into enterprise blockchain tools and analytics, emphasizing open-source development, sustainability, and regulatory compliance to support global adoption in supply chains, governance, and tech ecosystems.
### Key Products and Technology
- **Exonum Enterprise**: Blockchain-as-a-service platform for integrating blockchain into operations, allowing secure and transparent systems. Features: Open-source, scalable, customizable for enterprise needs; applications: Supply chain tracking, digital identity management, and government services.
- **Crystal Blockchain Analytics**: Advanced analytics tool for monitoring blockchain transactions to ensure security and compliance. Features: Real-time tracking, risk assessment, and visualization; applications: Anti-money laundering (AML), fraud detection, and regulatory reporting for crypto exchanges and institutions.
- **Bitfury Clarke ASIC**: Custom-designed SHA256 ASIC chip for Bitcoin mining, offering high hashrate (up to 120 GH/s) with optimized energy efficiency. Features: Low power consumption, integration with data centers; applications: Securing the Bitcoin blockchain through efficient mining operations.
- **Immersion Cooling Systems**: Cooling technology for HPC data centers, developed in partnership with LiquidStack. Features: Energy and space efficiency, sustainability; applications: Research computations, AI workloads, and blockchain security in high-density environments.
- **AI Solutions**: Integrated hardware and software for edge and cloud-to-edge AI deployments. Features: Scalable, world-class tech for corporations and governments; applications: AI model training, analytics, and automation in enterprise settings.
### Team and Leadership
- **Brian Brooks, Chief Executive Officer**: Oversees company strategy and operations; former Acting Comptroller of the Currency (U.S. Treasury) and CEO of Binance.US, with deep expertise in financial regulation, cryptocurrency, and blockchain innovation. [@brianpbrooks1](https://x.com/brianpbrooks1).
- **Valery Vavilov, Founder and Executive Chairman**: Co-founder guiding long-term vision; pioneered Bitcoin mining hardware and blockchain infrastructure, with a background in engineering and tech entrepreneurship.
- **George Kikvadze, Vice Chairman**: Focuses on investments, strategy, and portfolio management; key investor in companies like Cipher Mining and Hut 8, with experience in tech ventures and longevity investments. [@BitfuryGeorge](https://x.com/BitfuryGeorge).
- **Alexey Deyneko, Head of Mining Solutions**: Leads mining operations and solutions development; emphasized automation and efficiency in recent partnerships.
- **Chandra Katta, Chief Technology Officer**: Promoted in recent updates; oversees technology innovation, previously serving as a consultant for the company.
### Recent News and Developments (2025)
| Date | Event | Details |
|------------|--------------------------------|-------------------------------------------------------------------------|
| July 22, 2025 | Termination of Board Observer Agreement with Cipher Mining | Bitfury ended its non-voting observer rights on Cipher's board, as shareholding fell to 25.2%; signals reduced influence and portfolio rebalancing. |
| July 10, 2025 | Jonathan Gould Confirmed as OCC Head | Former Bitfury executive appointed to lead the U.S. Office of the Comptroller of the Currency, bringing blockchain expertise to financial regulation. |
| July 3, 2025 | Sale of Cipher Mining Shares | Affiliate V3 Holding sold 1 million shares of Cipher Mining as part of ongoing rebalancing efforts. |
| March 2025 | Launch of Bitcoin Mining Fund | Partnered with a Swiss investment firm to create a fund offering institutional access to Bitcoin mining operations. |
| February 2025 | Implementation of Automation Partnership | Deployed Hiveon Enterprise platform for automated workflows in data centers, reducing manual labor by 2 full-time equivalents and enhancing efficiency. |
### Partnerships and Collaborations
- **LiquidStack**: Joint development of immersion cooling for HPC data centers, focusing on energy-efficient solutions for AI and blockchain.
- **Hiveon**: Implemented Enterprise platform in February 2025 for automation in mining and HPC operations, optimizing workflows and reducing manual tasks.
- **Cipher Mining**: Long-term investor with a 25.2% stake; provided initial infrastructure but terminated board observer agreement in July 2025, indicating a shift to passive investment.
- **Hut 8 Mining**: Strategic investment and collaboration in cryptocurrency mining infrastructure.
- **Swiss Investment Firm**: Launched Bitcoin mining fund in March 2025 to facilitate institutional participation in mining.
### Closing Note
With $181 million raised in Series D funding and strategic portfolio adjustments like share sales in Cipher Mining, Bitfury Group is in a mature stage, with a promising outlook through diversification into AI/HPC, blockchain analytics growth, and regulatory-aligned innovations amid increasing institutional adoption.
*Report generated July 28, 2025*