Bitfury to Invest $1 Billion in Ethical AI and Quantum Companies Translation: Bitfury to Invest $1 Billion in Ethical AI and Quantum Companies

The mining firm Bitfury has announced plans to invest $1 billion in «ethical companies» operating in the fields of AI, quantum computing, and decentralized systems, as reported by Fortune.

$200 million will be allocated in 2026, while the remaining funds will be distributed over the following years.

Founded in 2011 when the first cryptocurrency was valued at under $30, Bitfury has since diversified its operations into two main areas: mining and artificial intelligence.

For digital asset extraction, two distinct companies have been established, both traded on Nasdaq with a combined valuation exceeding $9 billion:

LiquidStack and Axelera AI operate separately, with the former focused on cooling data centers and the latter engaged in the development of software and hardware solutions for artificial intelligence.

“We ourselves were mission-driven entrepreneurs. We embraced Bitcoin and harnessed its power for the world. Now we want to empower others to succeed while making the planet better,” stated Executive Vice Chairman Georgy Kikvadze.

Bitfury is yet to finalize a specific list of companies for investment, although potential recipients are expected to operate within the AI, quantum computing, and transparent decentralized systems sectors. Other categories, such as «self-sovereign identity,» which allows individuals to manage their data through cryptography, are also considered.

Co-founder Valery Vavilov emphasized the critical role these technologies will play in the future, especially with the increasing prevalence of AI avatars that complicate distinguishing real individuals.

Kikvadze added that the company aims to be visionary in its technology investments.

“We are great admirers of Buckminster Fuller, who said: ‘You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete,’” he remarked.

Vavilov noted that Bitfury is refocusing on a new investment fund in light of the convergence of AI and cryptocurrency.

“Why now? Because artificial intelligence is taking over the world, and we see a tremendous synergistic effect from the interaction of AI and decentralized systems,” he said.

In November, MARA CEO Fred Thiel stated that the Bitcoin mining industry is currently facing challenging times due to increasing competition and declining profitability.

As a result, many companies have shifted their focus to supporting AI operations.

Seven out of the ten largest miners by hashrate reported earning revenue from AI or high-performance computing (HPC) activities. The remaining three plan to follow suit.

Notable developments:

To recall, in August 2024, the energy consumption of AI exceeded that of Bitcoin mining.