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Bitfury pivots from Bitcoin Mining to launch $1B Tech Fund

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Bitfury is the latest Bitcoin miner to pivot away from the mining sector, announcing that it will become an investment firm focused on “ethical emerging technologies,” including artificial intelligence and crypto.

Bitfury said on Tuesday that it will pour $1 billion into AI and Crypto startups as early as the fourth quarter of 2025, with funds derived from previous operations, successful investments, and a network of investors.

“Our mission is to close the gap between innovation and ethics by acting as a catalyst for founders and investors who build technologies that serve people and promote long-term sustainability,” said Bitfury CEO Val Vavilov.

Bitfury was one of the first companies to start mining bitcoin (BTC) in 2011 and delisted from Nasdaq Cipher Mining .

Many bitcoin miners have completely or partially pulled out of the industry as the cost and difficulty of mining crypto has increased, with some, such as bitfarms, converting their Power AI Sites.

Bitfury CEO still sees crypto playing a big role in society

Bitfury said Luckily it will focus on AI, quantum computing, and “Transparent Decentralized Systems.”

“AI is taking over,” Vavilov said when asked why the company would focus on those technologies. “We see great synergy between AI and decentralized systems.”

Bitfury has hands-on experience in AI, having built the Immersion-Cooling Solution Liquidstack to cool AI data centers, while also co-founding Netherlands-based company Axelera AI.

Vavilov added that Self-identity Cryptography-enabled solutions are another area of focus for the company.

Crypto miners have stock edges with bitcoin

Profitability margins at Bitcoin mining sector Continue to squeeze amid a 52% increase in bitcoin mining difficulty in the last 12 months and a 26.2% fall in Bitcoin’s price from $126,080 set on October 6