Bitfury Unveils $1 Billion Push Toward Ethical Tech, AI, and Decentralized Innovation.
Bitfury, a blockchain infrastructure business, today announced a $1 billion investment effort aimed at ethical technology and AI development
Quick overview
- Bitfury has announced a $1 billion investment initiative focused on ethical technology and AI development.
- The company aims to invest in AI, quantum computing, decentralized platforms, and self-sovereign identification solutions by the fourth quarter of 2025.
- CEO Val Vavilov emphasized the importance of bridging innovation and ethics, highlighting the synergy between AI and decentralized systems.
- Bitfury has a history in both AI and cryptocurrency, having developed solutions like LiquidStack and co-founding Axelera AI.
Bitfury, a blockchain infrastructure business, today announced a $1 billion investment effort aimed at ethical technology and AI development.
The company is emphasizing investments in artificial intelligence, quantum computing, transparent decentralized platforms, and self-sovereign identification solutions. Bitfury will encourage technological advancements centered on transparency and digital identification solutions.
Bitfury announced on Tuesday that it will invest $1 billion in AI and cryptocurrency firms as early as the fourth quarter of 2025, using capital from prior operations, successful investments, and a network of investors.
Bitfury CEO Highlights Ethical Tech Vision as AI and Decentralization Converge
Bitfury CEO Val Vavilov stated that the company’s goal is to cover the gap between innovation and ethics by serving as a catalyst for investors to develop solutions that benefit people and encourage long-term resilience.
When asked why the corporation will focus on these technologies, Vavilov responded that AI is taking over. We see substantial synergy between AI and decentralized systems.
Bitfury has hands-on expertise with AI, having developed LiquidStack, an immersion-cooling solution for AI data centers, as well as co-founding Axelera AI, a chip firm based in the Netherlands. The company also intends to invest in self-sovereign identification, so that users can have complete control over their own data using cryptography. Vavilov, Bitfury’s CEO, believes that this technology will be vital as AI avatars become more common and it becomes increasingly difficult to tell who is real and who is not. Kikvadze noted that while this may not be the case in 20 or 30 years, he emphasized the significance of investing in technology with a long-term perspective.
Vavilov stated that we feel that the future will be a collaborative effort between AI and decentralized systems, and we have extensive experience in both the crypto industry and AI.
Bitfury isn’t the only business to invest in both cryptocurrency and AI. Many Bitcoin miners have withdrawn entirely or partially from the sector as the cost and difficulty of mining cryptocurrency have risen, with some, such as Bitfarms, turning their sites to power AI.
Bitfury was one of the first firms to start mining Bitcoin (BTC) in 2011, and has since spun out the NASDAQ-listed Cipher Mining (CIFR) and Hut 8 (HUT), which are presently the second and seventh largest Bitcoin miners by market cap.
Crypto miner stock declines with Bitcoin.
Bitcoin mining profitability margins have been stretched due to a 52% increase in difficulty and a 26.2% drop in price from its October 6 high of $126,080.
The headwinds have caused the stock prices of 20 of the 22 major Bitcoin mining businesses by market capitalization to decrease during the last month.
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