bitcoin, blockchain, cryptocurrencies, digital currency

The leading bitcoin mining company – BitFury, announced on Thursday that it raised further $20 million in funding.

Since the year 2011, its beginning, the bitcoin mining company experienced massive improvement and now it was able to raise funds for the third time in last two years, making $60 million in total. According to the company, funds will be used for “accelerating growth” after the acquisition of a 100MW data centre in the Republic of Georgia.

Its major investors during the last fund-raising were: Georgian Co-Investment Fund, DRW Venture Capital and iTech Capital, while previous funding saw also Bill Tai in May and October of 2014.

The Chief Executive Officer Valery Vavilov stated: “Today, we are excited to announce we have secured a funding round of $20m. The success of yet another funding round validates our business strategy and brings us closer to our ambitious goals.”

Its major bitcoin-mining rival KnCMiner raised only half of this amount, nearly $30 million. As the blogger Organ of Coti stated, BiFury tripled its market share, making now more bitcoin blocks than all the other block-makers together.

In the UK, the government of Jersey isle started an open consultation with public about its regulation of digital currencies and bitcoin especially.

In the consultation paper, the government highlights the risks related to bitcoin, as well as advantages of block-building.

As for the positive aspect, Jersey government expected innovation, jobs creation and economy growth in financial sector and cryptocurrency sector, what Jersey government prefers.

The creation of a business-friendly framework that encourages innovation, jobs and growth in both the financial services and digital sectors is a priority for the Government of Jersey.

As Philip Ozouf, Jersey’s assistant chief minister said: “Virtual currency systems represent a new and empowering technology. This consultation will allow us to take into account a wide range of views when putting in place an appropriate and proportionate regulatory environment.

As for the negative, consultation papers sets some point for discussion as the money-laundering issue or possible terrorist financing risks.

The public discussion period is about to be ended on August 7, 2015

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