Bitcoin Mining Firm Bitfury Launches $1 Billion Investment Plan, Focusing on Ethical Technology and AI Innovation

BlockBeats News, November 18th, according to Fortune report, Bitcoin mining firm Bitfury has announced the launch of a up to $1 billion investment plan aimed at supporting "mission-driven" entrepreneurs, with a focus on investing in the fields of Ethical Tech and Artificial Intelligence (AI). The company plans to invest $200 million in the next year, with the remaining funds to be disbursed over the next few years.

Bitfury plans to invest in areas such as AI, quantum computing, transparent decentralized systems, and self-sovereign identity that allows individuals to have full control over their own data. Bitfury's co-founder and CEO Val Vavilov stated that the company's strategic shift is based on the significant synergy between AI and decentralized systems, believing that the future will be a combination of the two.

Bitfury primarily derives its profits through its Bitcoin mining business and has previously spun off two Nasdaq-listed companies: Cipher Mining (market value of about $5.5 billion) and Hut 8 (market value of about $4 billion). Bitfury also co-founded AI infrastructure companies LiquidStack (data center cooling) and Axelera AI (AI software and hardware design).