BitFury's Georgian Technology Park to Create new Jobs – Bitcoin News


BitFury's Georgian Technology Park to Create new Jobs

BitFury, the Bitcoin blockchain infrastructure provider, has announced some great things this month. Early in September the company announced its 16 nm (application-specific integrated circuit) chip that will operate with the fullest proprietary immersion cooling technology implemented by Allied Control a company acquired by BitFury. Then, just this week, the reputable ASIC chip manufacturer announced its building of a new 100MW data center in Tbilisi, Georgia’s capital city.

Also read: Bitcoin: Hardware or Software? That is the Question

Screen-Shot-2014-10-09-at-5.26.25-PMGeorgia has been getting the attention of international businesses as a premiere destination since BitFury has acquired its land. The company purchased 185,000 sq. m of land located in the Gldani District of Tbilisi, and will be the first inhabitant in the new “Technology Industrial Park.” BitFury will commence operations in the Republic of Georgia with its mega data center and 28 nm and 16 nm ASIC chip production. The CEO of BitFury Valery Vavilov said:   

“We are pleased to commence our new project in the Republic of Georgia which envisages the development of the special technology zone with the aim of attracting international technology players, as well as building our latest mega data center.”

~Valery Vavilov, BitFury

bitfury-coop-view1BitFury already has a nice data center in Iceland and Finland, and a smaller processing plant located in Georgia. These mega data centers house the second largest consolidated mining effort currently in the network. The first BitFury Georgian effort produced a 20MW data center constructed in a mere 30 days. The next industrial outfit in the Republic will feature BitFury’s work on third generation cooling systems for enhancement of their current infrastructure services.

BitFury has been a leading mining and chip business since its inception in 2011. The company’s home offices are located in Amsterdam, and San Francisco is where the business markets its global satellites.

BitFury has built a solid reputation as a leader in custom-made semiconductors for the mining realm. One of its first headliners, the 55 nm chip, introduced a new era in ASIC manufacturing; with this unbeatable market savvy, BitFury became one of the largest mining companies worldwide.

“Our investment decision was made based on our previous experience of doing business in the Republic of Georgia. Our current data center located in Gori in Georgia, which was developed in cooperation with Georgian Co-Investment Fund, proved to be a major success, and as a result, we saw further potential in continuing doing business and investing in this country.” ~Valery Vavilov

bitfury-to-build-a-technology-park-in-georgia-9648-01The BitFury group has had an impressive track record within the Bitcoin industry and continues to push forward with its fourth generation. The company conducts heavy research into the bitcoin ecosystem with examinations into mathematical formalism for voting, the block size debate, and the company even addresses the inherent nature of Proof of Stake cryptocurrencies. With a new data center and a 16 nm chip that will process transactions faster than most devices on the market today, the infrastructure service is laying its futuristic groundwork constantly. The Georgian National Agency is pleased to collaborate with BitFury and build the state’s Technology Park Project, possibly bringing new companies and jobs to the region.

What do you think of BitFury’s advancements in ASIC chips? Let us know in the comments below! 

Tags in this story
ASICs, Bitcoin, Bitcoin mining, BitFury, Valery Vavilov

Images courtesy of Wiki Commons, Inside Bitcoins, and Redmemes

Jamie Redman

Jamie Redman is the News Lead at News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for News about the disruptive protocols emerging today.

Show comments