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BitFury Invests $100 Million in New Data Center


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BitFury, the leading bitcoin blockchain infrastructure provider and transaction processing company has recently announced that they are going to invest in Georgia to build data centers. The company has plans of investing over $100 million in Tbilisi, the capital city of Georgia.

BitFury’s investment in Georgia will go towards building a second bitcoin mining data center. The new bitcoin mining data center will have a capacity of 100 MW, five times more than that of the earlier 20MW bitcoin data mining center they had set up earlier in Gori, Georgia. The plans to build this new bitcoin mining data center has been on the papers for a while, until the construction began recently.

BitFury started the construction of its new mining facility early last month. The new facility is being built over an area of 185,000 square meters provided by the Georgian National Agency of State Property. The land area is designated as Special Technology Zone and it will house facilities of international technology companies.

The new bitcoin mining data center will house BitFury’s latest bitcoin miners powered by 28nm and the upcoming 16 nm Application Specific Integrated Circuits (ASICs). These new ASICs, once incorporated will increase the efficiency of mining operations as these new chips are easily capable of achieving an energy efficiency of 0.06 joules per gigahash.

BitFury is one of the highly funded bitcoin mining infrastructure provider with mining facilities spread across multiple countries. The company has raised over $20 million from investors to setup new mining data centers and launch new mining ASICs. The company had first announced its plans to set up a new bitcoin mining data center in Georgia.

However, it is still not clear about how BitFury is going to invest $100 million into its new data center and whether the investment also includes operational expenses. Based out of Amsterdam, Netherlands BitFury has raised investments in three consecutive times The Georgian Co-Investment Fund has been one of the investors in all the three investment rounds.

I see, I think and I do... passionate about digital currency, start-ups and social good. I believe that if you mix them right, you can change the world. Find me @gautham_n on twitter or /gautham,nm on facebook


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