Bitfury Group

cryptocurrencyblockchain

FOUNDING YEAR: 2011
LOCATION:
Last Update: 17/07/2020

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive WhatsApp community where you can engage in discussions with global industry experts!

About

BitFury is a bitcoin infrastructure provider and blockchain transaction processing company. It designs and develops its own full custom ASIC silicon chips, printed circuit boards (PCB), servers and data centers and runs one of the largest operations in the world in data centers in Iceland and the Republic of Georgia. Recently, Bitfury was selected for the 2019 Forbes FinTech 50 startups list.

Focus

PRODUCTS & SERVICES

Software Offerings: Digital Assets PaaS, Data Analytics, Lightning Network, Property Rights Registration, Voting, Chain Hub. Hardware Solutions: Semiconductors and microelectronics, Servers, Datacenter construction, Datacenters in marine containers, Immersion cooling

REVENUE MODEL

Transaction based revenue -

MAIN CLIENTS

Businesses and Governments

EXISTING PARTNERSHIPS

Republic of Georgia - Land titling project

BitClub - mining partnership

BitGo - for enterprise treasury management solutions

Traction

VALUATION / MARKET CAP:

$100 M in 2018

VALUATION COMMENT:

The company has valuated over $1 Bn in the latest round. (Nov. 2018)

REVENUE

$10M+ in 2014

REVENUE COMMENT:

The company has generated annual revenue of $500 Mn in 2018.

Momentum

FUNDED

YES

TOTAL FUNDING

$140 M

DATE OF LAST FUNDING

Jul 2018

TOTAL FUNDING COMMENT

The company will use the funds to continue to develop both its customizable chips and its blockchain platform. (Nov. 2018)

FUNDING SERIES

SERIES A  · $20 M  · May 2014

SERIES B  · $20 M  · Oct 2014

SERIES C  · $20 M  · Jul 2015

OTHERS  · $80 M · Jul 2018

LISTED

NO

Innovation Programs

Join the exclusive global FinTech community

Be a part of the global FinTech community on WhatsApp