Bitcoin mining company BitFury receives $20 million in funding to strengthen blockchain infrastructure

BitFury, a Bitcoin blockchain technology infrastructure provider and transaction processing company, has received $20 million in funding from DRW Venture Capital, iTech Capital and Georgian Co-Investment Fund, which once again shows that Bitcoin and blockchain technology are gradually becoming platform-level products.

In addition to infrastructure and transaction processing, BitFury also offers the HexFury, a USB mining device with six small semiconductors (ASICs) that make mining Bitcoin more efficient.

The company recently launched a 28-nanometer chip and acquired Allied Control, an immersion cooling startup. It is also building a "Techno Park" as its new 100-megawatt data center in the Republic of Georgia.

This round of financing is the third round of financing obtained by BitFury in two years, and the company’s total financing amount has now reached 60 million US dollars.

Founded in 2011 by Valery Vavilov and Valery Nebesny, BitFury has offices in San Francisco, Washington, D.C., and Amsterdam, and data centers in Iceland and the Republic of Georgia.