BitFury Further Hints at Blockchain Tech Interest with Secret Summit

BitFury has dropped more hints about an emerging interest into Bitcoin's blockchain technology, hosting a private summit in the UAE.

Bitcoin mining giant BitFury has dropped more hints about what may be an emerging interest in Bitcoin’s blockchain technology, hosting a private summit in the United Arab Emirates (UAE).

BitFury until now has been solely in the business of manufacturing bitcoin mining equipment and mining bitcoins. In theory, these pursuits can interrelate with those of blockchain technology applications, as the hashing power behind the Bitcoin network would secure whatever ‘real-world’ transactions ride its rails. 21 Inc, the secretive startup that has secured the most funding in the crypto industry, has indicated its goal of making bitcoin ubiquitous through its mining using everyday devices.

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US Department of Justice official Jason Weinstein, one of BitFury’s advisors, will be speaking at one of the summit sessions. Not much else is publicly known about the event, which is taking place between October 7-10.

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The summit comes two weeks after the company announced that it is investing $100 million in a data center in Georgia, part of a 2 million square-foot tech park.

When BitFury secured its third round of $20 million in July, there were some overtones of interest in blockchain tech, though they were cryptic. “Blockchain is one of the most promising and disruptive technologies we’ve seen in the FinTech industry for the past 15 years. We’ve kept an eye on Blockchain since its inception and are confident in its global recognition and following success,” said Gleb Davidyuk, Managing Partner of iTech Capital, one of the round’s investors.

This past May, a blockchain summit was held at the private island of Sir Richard Branson, Necker Island. BitFury was among the guests, and showed off a light bulb reportedly capable of mining bitcoin.

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