Bitcoin mining firm Bitfury has confirmed a full exit from Bitcoin mining and launched a $1 billion fund targeting ethical innovation. The company announced the shift as it repositioned itself from a mining heavyweight into a global investment force focused on AI, quantum computing, and decentralized systems.
According to the announcement, the firm acted to meet fast-rising concerns about the widening gap between rapid technological growth and slow ethical standards. Bitfury outlined the plan as it moved to support founders building responsible systems. The company also secured the entire $1 billion from earlier operations, previous investments, and its global investor network. It expects to deploy capital before the end of the year.
Today we announce our pivot to an investment firm with the launch of our $1 billion funding initiative for ethical innovation. https://t.co/iyKnD10wjV
— The Bitfury Group (@BitfuryGroup) November 18, 2025
Bitfury anchored the pivot around a simple goal. The firm wants to close what it sees as a dangerous disconnect between innovation and ethics. The move also builds on its long legacy of blockchain engineering. Val Vavilov, Bitfury’s CEO, said, “Bitfury has always believed that technology must serve human progress.” He added, “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.”
A Major Industry Shift
The company changed direction after more than a decade of mining and infrastructure development. Bitfury began in 2011 as a miner but quickly expanded into new verticals. It built ASIC chips and industrial rigs that helped Bitcoin scale during crucial early years. However, rising energy costs and shrinking mining margins created new pressures. The company has therefore diversified into AI cooling systems, hardware acceleration, and compliance technologies.
Moreover, Bitfury incubated LiquidStack, which created high-density immersion-cooling solutions for AI data centers. It also co-founded Axelera AI, which designs advanced chips for edge AI workloads. These companies now support modern computing stacks that power big data, AI, and digital asset platforms.
Ethics as a Competitive Edge
Bitfury also launched Crystal Intelligence, which tracks blockchain crime for regulators and law enforcement. It also helped create the Blockchain Alliance, which strengthened public–private trust. Jason Weinstein of the Blockchain Alliance said, “Their next chapter — backing founders who align cutting-edge tech with ethical guardrails — is exactly the kind of leadership the world needs today.”
Consequently, the new fund builds on real traction rather than a symbolic shift. George Kikvadze, Bitfury’s Vice Chairman, said the firm will now apply its track record to “a new generation of science-driven ventures.”
“We were ourselves mission-driven entrepreneurs that embraced Bitcoin, and we brought the power of Bitcoin to the world,” George emphasized in a Fortune article. “Now we want to take our winnings and enable others to go and win and make the world a better place.”
A Bet on AI and Decentralization
The company expects AI to dominate future infrastructure needs. “AI is taking over,” Vavilov said. He sees strong synergy between AI and decentralized systems. The firm’s work in immersion cooling and specialized chips gives it a practical edge in these fields. Bitfury also plans to explore cryptographic identity tools that allow users to control their data.
Many Bitcoin miners are now turning their old equipment into AI machines because mining profits dropped hard after the 2024 halving. So, companies need new ways to stay afloat. Bitfury thinks the future should focus on values, not just squeezing money from mining. The company wants new technologies to grow with ethics built in from day one.