Bitfury pivots to launch $1B tech fund after 14 years of mining Bitcoin
Overview
Bitfury, a prominent Bitcoin mining company, has shifted its focus after 14 years in the mining industry. The company plans to invest $1 billion into technology startups, specifically targeting ethical AI and cryptocurrency ventures.
Transition from Mining to Tech Investing
Founded in 2011, Bitfury initially made its mark as a Bitcoin miner. However, the company has now decided to pivot away from this core business. The decision to redirect efforts towards tech investing aligns with its new strategy to support startups that focus on ethical uses of artificial intelligence and innovations within the cryptocurrency space.
This transition marks a significant change for Bitfury, moving from the operational challenges of mining to the dynamic landscape of technology investment. The commitment of $1 billion signals a substantial investment in the future of these sectors.
Impact on the crypto market
- Bitfury’s pivot may inspire other mining companies to explore technology investments.
- The focus on ethical AI could influence investment trends within the tech startup ecosystem.
- Increased funding in the crypto sector may lead to innovations and advancements in blockchain technology.
- This shift highlights the evolving nature of the cryptocurrency market and the potential for diversification among industry players.
- Bitfury’s move could attract more attention to ethical considerations in tech and crypto investments.
Updated: 11/19/2025, 1:47:48 AM
