BitFury CEO: We’re Not a Bitcoin Mining Business

Valery Vavilov, BitFuryIf understanding of the BitFury brand name was restricted to the bitcoin environment prior to this year, the San Francisco-based business has done its finest in 2014 to alter this, raising $ 40m through two financing rounds and including executives with experience at Samsung and VeriFone to its freshly created strategic advisory board.

BitFury has actually dominated VC financing in the bitcoin mining vertical in what has actually up until now proved to be a year formed by big fundraising statements. At press time, BitFury accounts for 65 % of all investments made in mining companies so far this year, and over 10 % of the financing raised openly by all bitcoin companies, a figure amounted to only by bitcoin providers Xapo.

Speaking with CoinDesk, CEO Valery Vavilov talked about BitFury’s larger method in the bitcoin market, while stressing that he sees the business as one that can extend its reach beyond the industrial mining and business-to-business (B2B) hardware markets.Continue reading at CoinDesk CoinDesk

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