Leading bitcoin mining hardware manufacturer BitFury has declared their interest in the investment game, with the announcement of a little something they’re calling ‘BitFury Capital’.
As the name would suggest, the branch-off will serve as a seed investment fund. According to the company, “The fund will leverage BitFury’s leading position in bitcoin and cryptocurrency infrastructure to accelerate other parts of the ecosystem through strategic partnerships, and expansion into adjacent business opportunities.”
This particular fund will be a subsidiary of BitFury Group, and it will reported focus on providing earl-stage funding with external partners. In later-stage funding rounds, the company says it can “draw strategic capital” from the BitFury Group.
“We are a trusted partner to our customers, and other contributors to the cryptocurrency ecosystem,” said company chief executive officer Valery Vavilov. ““Our leadership position in cryptocurrency and Bitcoin infrastructure will help accelerate and help grow the significance of other parts in the ecosystem – which in return grows the value of our own core business, and enables us to expand into new opportunities within the industry.”
It could prove to be a lucrative business for the company, especially with the coming of tons of new start-ups in the crypto-currency space.
Aside from offering seed funding, BitFury Capital says they will also “deliver knowledge and resources” from their experience running BitFury Group which will [hopefully] allow participating start-ups to flourish.
BitFury Capital suggests that any interested start-ups/partners send them an email to capital@bitfury.com.