Amsterdam-based Bitfury raises $80M post acquiring stake in Swiss-based Final Frontier

Amsterdam-based Bitfury raises $80M post acquiring stake in Swiss-based Final Frontier

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Aiming at expansion, the Bitfury Group, an Amsterdam-based full-service blockchain technology developer, has successfully garnered $80 million (€70 million approx.) in a funding round followed by acquiring minority stakes in Switzerland-based Final Frontier, which is a cryptocurrency and blockchain investment firm.

Funding, Final Frontier & Future

Successfully conducted by Korelya Capital, the fundraising episode has created waves in the sector. Bitfury aims to direct itself into adjacent market segments such as artificial intelligence (AI). Also, it plans to venture out in emerging technologies in order to boost its software and hardware equipment ensuring further expansion.

Moreover, the acquisition of minority stakes in Final Frontier, who are known for helping professional traders and investors to enter the crypto space, appears to be a landmark deal in the rapidly evolving sector of blockchain technologies.

Holding great importance, this collaboration will help both the parties utilize each other’s knowledge and experience in the traditional and digital finance sectors. This step will be a head start to release a new line of financial products and services that will be customised to create a conducive bond between professional investors to place their bets on the digital assets.

Bitfury: An Insight

With 700 employees and five data centres across the globe, Bitfury, founded in 2011 by Valery Vavilov, has anchored itself by delivering top-notch computing technologies and processing capacities, and software solutions for governments and businesses to deploy real-life blockchain business solutions. Bitfury is the brain behind blockchain projects including Exonum, a private blockchain framework; Crystal Blockchain, an advanced analytics platform; and LightningPeach, an open-source lightning network project.

Stay tuned to Silicon Canals for more updates in the tech startup world.

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