Bitcoin company BitFury plans to build a giant mining data center with an investment of $100 million

Bitcoin mining company BitFury will invest $100 million to build a 100-megawatt Bitcoin mining data center in Georgia, local news source Agenda reported.

It is reported that the data center will be built in Tbilisi, the capital of Georgia. This is also BitFury’s second Bitcoin mining data center in the Eurasian country. Its first 20-megawatt data center is located in Gori.

BitFury first announced the data center in July, when it closed a $20 million round of venture funding and launched its 28nm bitcoin mining chips. Although construction of the facility began in early August, the company did not specify whether the $100 million would be used entirely for construction or if the figure also included the cost of operating the data center.

The data center will be built on 185,000 square miles of land reserved by Georgian state agencies to create a "special technology zone" to attract international technology companies, the sources said.

In a statement, BitFury’s official representative in Georgia, Eprem Urumashvili, said:

“Georgia will benefit in three main ways. An investment of $100 million will bring modern information technology to the country, and (Georgia) will be put on the world map of innovative technologies.”

According to reports, the data center will deploy BitFury’s 28nm and soon-to-be-released 16nm ASIC mining chips. In September, BitFury announced that it had completed the tape-out of its 16nm chip, which had an energy efficiency of 0.06 joules/Gh.

In addition, BitFury has previously stated that 16nm mining chips may be deployed in a new mining data center in North America, and it is unclear whether this announcement has an impact on this plan.

It is worth noting that BitFury CEO Valery Vavilov pointed out that BitFury's data center construction department has its own company in Georgia. In addition, the Georgian Joint Investment Fund, a strategic investment fund company focused on investing in the region, has participated in BitFury's three rounds of $20 million financing.

BitFury did not immediately respond to a CoinDesk request for more information.

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