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

On November 18th, according to a report in "Fortune", the Bitcoin mining firm Bitfury has announced the launch of an investment plan with a maximum amount of $1 billion. This plan is aimed at supporting "mission-driven" entrepreneurs, with a particular focus on investing in the fields of Ethical Tech and Artificial Intelligence (AI). The company plans to invest $200 million in the next year, and the remaining funds will 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, which enables individuals to have full control over their own data. Val Vavilov, the co-founder and CEO of Bitfury, stated that the company's strategic shift is based on the significant synergy between AI and decentralized systems, and believes that the future will be a combination of the two. Bitfury primarily generates profits through its Bitcoin mining business and has previously spun off two Nasdaq-listed companies: Cipher Mining (with a market value of about $5.5 billion) and Hut 8 (with a market value of about $4 billion). Bitfury also co-founded AI infrastructure companies LiquidStack (for data center cooling) and Axelera AI (for AI software and hardware design).