Bitcoin mining operation BitFury announced Thursday it has raised $20 million in its third venture capital round, with participating investors including DRW Venture Capital, iTech Capital, and Georgian Co-Investment Fund.
DRW Venture Capital founder Don Wilson said in a press release that his firm’s investment in BitFury “is an acknowledgment of the impressive work [BitFury CEO] Valery Vavilov and the team has done to become a leader in the business of securing the blockchain. By supporting BitFury’s efforts in this regard, and by providing liquidity in bitcoin via its wholly owned subsidiary, Cumberland, DRW aims to facilitate the widespread adoption of the distributed ledger technology.”
Gleb Davidyuk, managing partner of iTech Capital, said in the release, “Blockchain is one of the most promising and disruptive technologies we’ve seen in the FinTech industry for the past 15 years. We’ve kept an eye on Blockchain since its inception and are confident in its global recognition and following success. For a professional investor it is always a welcoming opportunity to recognize the early