LONDON -- Today, Bitcoin miner turned technology incubator Bitfury announced its pivot to an investment firm with the launch of its $1 billion funding initiative, which seeks to back a new generation of ethical innovators.

The firm’s new mission is to close the gap between the accelerating pace of technological progress and the slower evolution of ethical development — a disconnect it sees as a root cause of many global challenges. By supporting mission-driven founders, the company seeks to accelerate ventures that embed ethics, transparency, and human values at the core of emerging technologies.

Bitfury’s new chapter as an investment firm builds on its pioneering legacy while expanding its role from technology provider to global catalyst for responsible innovation — ensuring the digital economy develops with integrity and long-term sustainability.

Bitfury was originally founded in 2011 as a bitcoin miner, but over the past 15 years has built a legacy as one of the world’s pioneering technology companies to be founded during the blockchain era. It has spun out several successful companies, including NASDAQ-listed Cipher Mining (CIFR) and Hut 8 (HUT), which began as Bitfury mining operations in the U.S. and Canada respectively. The company also established LiquidStack, an immersion-cooling pioneer designed for the AI era’s ultra-high-density sustainable computing, and co-founded Axelera AI, a European leader in AI-chip and hardware design. Together, these Bitfury-incubated companies now form the core of an energy-efficient, modern computing infrastructure that supports AI and big data initiatives as well as digital assets.

Driven by a commitment to trust and accountability, Bitfury also launched Crystal Intelligence, one of the industry’s leading crypto-compliance companies, and was among the founding members of the Blockchain Alliance, a public-private partnership created to combat criminal activity involving Bitcoin and blockchain by providing law-enforcement agencies with education and technical assistance to ensure responsible use. To strengthen collaboration and education, Bitfury also founded the Global Blockchain Business Council (GBBC).

“Bitfury has always believed that technology must serve human progress,” said Val Vavilov, Co-founder and CEO of Bitfury. “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’s record of incubating and capitalizing technology leaders will now be applied to a new generation of science-driven ventures,” said George Kikvadze, Vice Chairman of Bitfury. “We are aligning a network of mission-driven investors and founders who bring capital, expertise, and purpose to scale technologies that meaningfully advance humanity.”

“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,” said Jason Weinstein, director of the Blockchain Alliance and advisor to Bitfury.

Bitfury has already secured the $1 billion for this initiative, with funding coming from its previous operations, successful investments, and network of investors; and will begin deploying funds as early as this year.