Bitfury has become the latest Bitcoin miners to announce that they will pivot from the mining industry and focus on investment. “ethical emerging technologies,” Artificial intelligence, cryptography and other technologies
Bitfury said On Tuesday, it announced that $1 billion would be invested in AI and cryptocurrency startups by the end of the 4th quarter 2025. The funds will come from previous investments and operations as well as a large network of investors.
“Our mission is to close the gap between innovation and ethics by acting as a catalyst for founders and investors building technologies that serve people and promote long-term resilience,” Bitfury’s CEO Val Vavilov.
Bitfury is one of the original companies that started mining Bitcoin.BTCNASDAQ in 2011, and spun off the NASDAQ-listed Cipher Mining (CIFR) & Hut 8 are the current 2nd & 7th biggest Bitcoin Miners by Market Cap.
Bitfarms is one of the many Bitcoin mining operations that has been forced to close down due to the increasing cost and difficulty in mining cryptocurrency. converting their AI powered by sites
Bitfury’s CEO is still optimistic about crypto and its role in the future of society
Bitfury told Fortune would be focusing on AI. quantum computing, You can also find out more about the following: “transparent decentralized systems.”
“AI is taking over,” Vavilov responded when asked by a reporter why his company would focus on these technologies. “We see the big synergy between AI and decentralized systems.”
Bitfury’s AI expertise is grounded in its experience of building immersion cooling solutions LiquidStack for AI data centers and founding Axelera AI (a Dutch chip company).
Related: Institutions lean into crypto despite Bitcoin price slump
Vavilov’s added that self-sovereign identity Cryptography solutions are also a focus of the company.
Bitcoin mining stock side with crypto miners
The margins of profit in the Bitcoin mining sector Bitcoin prices have fallen 26.2% from the $126.080 they reached on October 6th, despite a rise of 52% in Bitcoin difficulty in the past 12 months.
Stock prices for 20 out of the 22 biggest Bitcoin mining companies, ranked by market cap, have fallen over the past one month.
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Source: cointelegraph.com
