Bitfury Launches $1B Fund To Support Ethical Innovation

Bitfury aims to bridge the gap between fast-paced technological innovation and the slower development of ethical standards. The firm sees this disconnect as a driver of global challenges and intends to back founders who prioritize ethics, transparency and human-centered values in the creation of new technologies.

With this shift, Bitfury transitions from technology developer to investor, backing ventures that embed ethical principles at the heart of emerging systems. The Amsterdam-based firm seeks to shape the digital economy by supporting projects that advance responsible practices and foster long-term stability.

George Kikvadze, Vice Chairman of Bitfury, says, “Bitfury’s record of incubating and capitalising technology leaders will now be applied to a new generation of science-driven ventures. We are aligning a network of mission-driven investors and founders who bring capital, expertise, and purpose to scale technologies that meaningfully advance humanity.”

Bitfury has raised the $1B initiative through its prior operations, past investments, and investor network, with plans to start deploying funds within the year to support ethical technology ventures.

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Bitfury is charting a new path focused on ethical innovation. Founded in 2011 as a bitcoin miner, the company has spent 15 years building expertise across the blockchain sector, creating and supporting businesses in mining, cooling systems, and AI hardware along the way.

Val Vavilov, co-founder and CEO of Bitfury, says, “Bitfury has always believed that technology must serve human progress. This next chapter unites mission-driven investors and founders people who have built with purpose to support the next generation of innovators who share that calling. Together we can align innovation with values and build technologies that make people more independent, creative, and free.”

“Our mission is to close the gap between innovation and ethics by acting as a catalyst for founders and investors building technologies that serve people and promote long-term resilience,” Vavilov added. “Throughout my life journey, I’ve focused on building systems that strengthen trust and empower humanity and that’s the path Bitfury continues to follow today.”

Bitfury spun off its early US and Canadian mining operations into NASDAQ-listed companies Cipher Mining and Hut 8. It also founded LiquidStack, specializing in immersion-cooling for high-density computing, and co-founded Axelera AI, developing AI chips and hardware. Additionally, Bitfury launched Crystal Intelligence, a leading crypto-compliance platform for the blockchain sector.

The Dutch company also co-founded the Blockchain Alliance, a public–private partnership collaborating with law enforcement on Bitcoin and blockchain matters. To promote industry coordination and education Bitfury established the Global Blockchain Business Council (GBBC), supporting blockchain initiatives and fostering knowledge sharing across the sector.

Jason Weinstein, director of the Blockchain Alliance and advisor to Bitfury, adds, “From day one, Bitfury has been a constructive partner in building the public–private trust that responsible innovation requires. Their next chapter backing founders who align cutting-edge tech with ethical guardrails is exactly the kind of leadership the world needs today.”

About Bitfury

Bitfury is a global technology company and incubator driving innovation in blockchain, AI and advanced computing. Building on a decade of experience, it now focuses on ethical technology, supporting ventures that prioritize transparency, human values and responsible practices, while shaping the future of digital and computational systems worldwide.