Bitfury pivots to launch $1B tech fund after 14 years of mining Bitcoin

Bitcoin miner Bitfury started up in 2011, but has now pivoted to tech investing and will pour $1 billion into ethical AI and crypto startups.

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

Bitfury said on Tuesday that it would pour $1 billion into AI and crypto startups as early as the fourth quarter of 2025, with the funds coming from its 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 building technologies that serve people and promote long-term resilience,” said Bitfury CEO Val Vavilov.

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