Bitcoin mining company Bitfury announces $1 billion investment plan focusing on ethical technology and AI innovation.

According to Fortune magazine, Bitcoin mining company Bitfury has announced a $1 billion investment plan to support mission-driven entrepreneurs, focusing on innovation in ethical tech and artificial intelligence (AI). The company plans to invest $200 million over the next year, with the remainder to be spent over the next few years.

Bitfury plans to invest in areas such as AI, quantum computing, transparent decentralized systems, and self-sovereign identity that allows individuals to have complete control over their own data.

Bitfury co-founder and CEO Val Vavilov stated that the company's strategic shift is based on the significant synergies between AI and decentralized systems, believing that the future will be a model combining the two.

Bitfury primarily profits through its Bitcoin mining business, and has previously spun off two Nasdaq-listed companies: Cipher Mining (market capitalization of approximately $5.5 billion) and Hut 8 (market capitalization of approximately $4 billion). Bitfury has also co-founded AI infrastructure companies LiquidStack (data center cooling) and Axelera AI (AI hardware and software design).