Growing Up, Bit by Bit

Today at Bitfury, we are celebrating. We are celebrating because we are proud of all that we have achieved in the past year, and what we have built since our inception in 2011.

In 2018, we welcomed new world-class experts onto our team, and with their help we have launched new products, created new partnerships and continued to deliver on our mission to make the world more transparent and trusted.

Here are just a few of Bitfury’s accomplishments from the past year:


We launched the Crystal blockchain analytics and investigative tool for law enforcement, financial firms and others. With the Crystal platform, we are taking a critical step toward ensuring that the Bitcoin Blockchain and other public blockchains have a safe and secure future.


Alongside the Digital Supply Chain Institute (DSCI) and Aricent, we announced the results of two pilot projects that demonstrate that blockchain technology can enhance software product development supply chains and improve development operations (DevOps). This approach increased developer performance, product cycle time and fault resolution time.

For the first time, we were included on the “Forbes Fintech 50” list of the world’s top financial technology companies. (Spoiler alert: We made the list again this year).


We announced a partnership through the Blockchain Trust Accelerator with Coca-Cola and the U.S. State Department to create a secure blockchain-based registry for workers to help fight the use of forced labor.

We also expanded into Norway, opening a datacenter farm in Mo i Rana.


We announced a partnership with specialist insurer Beazley and Lloyd’s coverholder Risk Cooperative to build the first blockchain-based system for crisis insurance and risk management.


We appointed veteran U.S. Justice Department cybercrime chief Michael DuBose to help introduce the Crystal Bitcoin Blockchain analytics tool to U.S. law enforcement agents, financial groups and other key audiences. For 11 years, Mike served as Chief of the Computer Crime and Intellectual Property Section of the U.S. Justice Department. There he led a division of 40 federal prosecutors, indicted and tried computer crime and IP cases of national and international significance, and served as the department’s chief executive on policy and prosecution priorities to combat transnational cybercrime.


The Mediazone Group recognized Bitfury’s subsidiary, Allied Control Ltd., as one of Hong Kong’s “most valuable” companies, one of the city’s most prestigious business awards.

We also signed a historic agreement with the Government of Bermuda to add blockchain technology to the Island’s land-registry system, and with Ledger Projects to build blockchain applications in Malta.


During our fourth annual Blockchain Summit which took place in Morocco, we launched “BE BIG,” (the Bitfury Educational Blockchain Initiative for Good) a global education initiative to advance the adoption of blockchain as the paramount technology of digital trust.


In August, our US-based blockchain analytics subsidiary, Crystal Blockchain Inc., joined the Association of State Criminal Investigative Agencies (ASCIA) as a corporate partner. We joined an extensive list of ASCIA members, including state bureaus of criminal investigation from almost all 50 U.S. states.


We proudly launched a new generation of bitcoin transaction processing hardware, led by our newest bitcoin mining ASIC chip, Bitfury Clarke.


We added to our new suite of bitcoin transaction processing hardware with the launch of our new Bitfury Tardis enterprise grade bitcoin server, the latest generation of our B8 mining server.

We also expanded into the Republic of Korea and added Olympic gold medalist, Eun Chul-lee, as our head of Korea.

The Bitfury Tardis


We closed an $80 million USD private placement with global institutional and corporate investors, becoming the largest European blockchain unicorn. We also acquired a substantial minority stake in Final Frontier, a financial services firm that specializes in the blockchain industry.


Our Exonum team kept working hard through the holiday season, launching 0.10 version of our blockchain framework and sharing guidance on how to use zero-knowledge proofs to build a private currency.

Looking ahead to 2019, I want to thank all of Bitfury team members for their hard work and contribution to everything we do. I want to thank all of our friends & families who are constantly supporting us and helping us to achieve what we are achieving. The hard work of the Bitfury team, alongside the support from our friends & families, has enabled us to build a solid foundation that I know will help us emerge stronger and better than ever, in 2019 and beyond.

In eight short years, we have built the world’s leading blockchain technology company. The year 2019 presents yet another opportunity for us to strengthen our mission of making the world more transparent and trusted.

I believe this, because I know who we are. We are a team of men and women who share many values, with the most important value being to do good. To do good in the world, to do good to people around us and to do good to ourselves. This simple, foundational value is what makes Bitfury what Bitfury is.

So today, we take a moment to celebrate our hard work and achievements. I think you will agree that we have earned it. Tomorrow, we will be back to action, continuing to make this world a better place bit by bit.

- Valery Vavilov