bitfury

According to Bloomberg, Bitfury founder Val Vavilov stated that the recent plunge in cryptocurrency is a great opportunity to buy again. He commented on WhatsApp: "For us, the drop in Bitcoin is an opportunity to rebalance our portfolio and purchase a certain amount of Bitcoin at a low price." However, he did not disclose the investment amount or the quantity purchased.Vavilov said: "We believe in Bitcoin and its growth potential, and we hold part of our assets in Bitcoin, but it is just one component of our portfolio." He emphasized that his company has long expanded from cryptocurrency mining to the field of artificial intelligence infrastructure.

According to Fortune magazine, Bitcoin mining company Bitfury has announced a $1 billion investment plan aimed at supporting "mission-driven" entrepreneurs, focusing on innovations in ethical technology and artificial intelligence.The company plans to invest $200 million in the next year, with the remaining funds to be spent over the next few years. Bitfury intends to invest in areas such as AI, quantum computing, transparent decentralized systems, and self-sovereign identity that allows individuals to have complete control over their own data.Bitfury co-founder and CEO Val Vavilov stated that the company's strategic shift is based on the significant synergies emerging between AI and decentralized systems, believing that the future will be a model that combines both.Bitfury primarily profits through its Bitcoin mining operations and has previously spun off two publicly traded companies on NASDAQ: Cipher Mining (with a market cap of about $5.5 billion) and Hut 8 (with a market cap of about $4 billion). Bitfury has also co-founded AI infrastructure companies LiquidStack (data center cooling) and Axelera AI (AI hardware and software design).

ChainCatcher news, according to The Block, the U.S. Senate has voted to approve the nomination of former Bitfury Chief Legal Officer Jonathan Gould as the head of the Office of the Comptroller of the Currency (OCC), with a vote count of 50 in favor and 45 against. The nomination will be submitted to President Trump for final approval.Gould previously served as the OCC's Senior Deputy Comptroller and Chief Counsel, and Senator Cynthia Lummis initially had reservations about him but ultimately cast a vote in favor.As the national bank regulatory agency in the United States, the OCC is responsible for overseeing member banks of the Federal Reserve System, such as JPMorgan Chase and Bank of America. This year, it has implemented several crypto-friendly policies, including explicitly allowing banks to buy and sell crypto assets for themselves and removing references to "reputational risk" from its regulatory handbook, while emphasizing that banks still need to manage related risks appropriately.

ChainCatcher news, according to Cointelegraph, U.S. President Trump nominated former cryptocurrency company executive Jonathan Gould to serve as the Director of the Office of the Comptroller of the Currency (OCC) on February 11, with a five-year term.Gould previously served as Chief Legal Officer at blockchain infrastructure company Bitfury and was also the Senior Deputy Comptroller and Chief Counsel of the OCC during Trump's first term. Kristin Smith, CEO of the Blockchain Association, stated that Gould's experience in the crypto industry will help him effectively lead the OCC.As the national bank regulatory agency, the OCC is responsible for overseeing member banks of the Federal Reserve System, such as JPMorgan Chase and Bank of America.

ChainCatcher news, according to Globenewswire, Bitcoin mining company Bitfury plans to allocate shares of Cipher Mining Inc. to unlock potential value for Bitfury's base shareholders and other shareholders of Cipher. The share allocation plan for Cipher Mining has been approved by Bitfury shareholders, and the company will distribute approximately 16.127 million shares of Cipher stock to Series C shareholders within seven business days, with plans to explore the distribution of approximately 126 million shares of Cipher stock to remaining shareholders (subject to further shareholder approval). If the relevant allocation plan is completed, Bitfury will retain only about 50 million shares of Cipher stock, reducing its ownership stake from approximately 75% to less than 20%.It is reported that Cipher is a Bitcoin mining company headquartered in the United States, operating as a subsidiary of Bitfury until August 27, 2021.

ChainCatcher news, the encrypted mining company Bitfury Group announced the sale of 10 million shares of Cipher Mining common stock at a price of $2.95 per share in a privately negotiated transaction. Upon completion of the transaction, Bitfury will hold 191,931,387 shares of Cipher, accounting for approximately 75.37% of Cipher's common stock.It is reported that Bitfury has signed a 60-day lock-up agreement for its remaining holdings of Cipher common stock, under which the company is prohibited from selling or transferring any common stock before January 15, 2024. Cipher is a Bitcoin mining company based in the United States, operating as a subsidiary of Bitfury until August 27, 2021.

ChainCatcher news, according to Techcrunch, the AI chip company Axelera, incubated by the crypto mining company Bitfury, announced the completion of a $27 million Series A funding round. This round was led by Innovation Industries, with participation from Imec.xpand, the Belgian Federal Holding and Investment Company. Additionally, the Dutch Enterprise Agency granted Axelera a $6.7 million loan commissioned by the Ministry of Economic Affairs and Climate Policy.Axelera was incubated by Bitfury Group in 2019, previously operating as Bitfury AI, and began independent operations in 2021, primarily developing memory computing-based chips that reduce latency caused by storage devices by performing computations in RAM. (Source link)