Bitfury group is expanded to the USA, China, Great Britain, and the Netherlands with its data centers operating in the Republic of Georgia, Iceland, Canada, and Norway. The firm builds Bitcoin blockchain software apart from which it also facilitates consulting services. Valery Vavilov founded the firm in 2011. The firm provides hardware such as Semiconductors and microelectronics, servers, datacenter construction, etc. and on the other hand digital assets PaaS, data analytics, lightning network, property rights registration are some of the software that the company offers. The blockchain giant is considered to be one of the leaders in the blockchain network.
According to the tweet posted on 24th April, the blockchain-based tech giant Bitfury Group in alliance with Final Frontier (a Swiss investment company) has decided to come up with bitcoin (BTC) mining funds to serve the institutional investors. The development will enable investors to access the bitcoin mining field while the blockchain firm highlighted the pros of this development for the upcoming startups.
Bitfury will build the required hardware in order to execute the project which would help the firm’s mining arms to deliver cost-effective mining services.
The co-founding member of Final Frontier, Imraan Moola told Reuters that “With the bitcoin price down significantly from its all-time high, yet institutional interest growing every day, now may be an opportune time to consider investing in bitcoin mining.”
Vice chairman, George Kikvadze at Bitfury also stated that the development would not only be beneficial to institutional investors, but it will also obtain a recognizable position in bitcoin (BTC) trading. Back in 2017, Bitfury partnered with the government authorities of Ukraine as an effort to provide a full-fledged blockchain e-governance policy.
The blockchain firm, Bitfury also collaborated with South Korean R&D firm Commons Foundation in order to introduce mining funds in Paraguay early this year. Early in this month, Bitfury group managed to be a part of the Forbes’ list of top 50 enterprises with a net value of $1 crore or more using blockchain across the globe. It is reported that the firm will be considering an IPO in London, Hong Kong or maybe Amsterdam which is predicted to be held in 2019.
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