Bitfury is the leading full service Blockchain technology company and one of the largest private infrastructure providers in the Blockchain ecosystem.
Bitfury develops and delivers both the software and the hardware solutions necessary for businesses, governments, organizations and individuals to securely move an asset across the Blockchain. The expertise of Bitfury ensures successful, easy, fast, secure and cost-effective connectivity to the Blockchain.
Bitfury employs a global team of experts in technology, business, communications, security and civil society.
Bitfury believes the Blockchain can and will open new doors for global economic opportunity and prosperity, and its mission is to create and advance Blockchain applications that will further promote innovation and the advancement of the peer-to peer economy and the Economy of Things.Detailed information about our activities - http://bitfury.com
The company was founded in 2011 by Valery Vavilov.
Initially, the company began experimenting and running the bitcoins with the use of central processors of PCs and graphics processors, then ASIC chips began to be designed. In 2013, the company managed to develop a chip on 55-nanometer technology and establish its production under its own brand. Starting capital was 110 thousand dollars of own funds. Resources for subsequent growth ensured a rapid rise in the cost of bitcoin, including a jump in the rate from $ 100 to $ 1,200 in November 2013.
In 2014, the company developed mining on its own equipment in Finland, Iceland and Georgia, becoming one of the first "industrial" miners. At the beginning of June 2014, the capacity of the pool, in which the share of ASIC-chips Bitfury was about 45%, for some time exceeded 51% of the total processing power of the entire bitcoin-network, which made possible a "double expenditure". To reduce the risk of network centralization, the company has removed part of its servers from ghash.io pool. As of 2017, Bitfury controls about 9.5% of the Bitcoin network's processing capacity.
In 2014-2015, the company raised 3 rounds of investments by $ 20 million, which was in the middle of 2015 half of the world's investment in Bitcoin infrastructure.