"When Val Vavilov co-founded his Bitcoin mining company, Bitfury, in 2011, the original cryptocurrency was worth less than $30, a sliver of its roughly $91,000 price today. Since then, Bitfury's mining ventures spun off into two Nasdaq listed companies whose combined worth tops $9 billion, while also launching two companies that offer AI infrastructure. Bitfury's next step? It wants to use its money to invest in the next crop of ethical tech innovators."
"It also aims to invest in self-sovereign identity, which is a way for people to have complete control of their own data using cryptography. Vavilov, Bitfury's co-founder and CEO, says that this technology will be important as AI avatars become universal, and it becomes evermore difficult to determine who is real and who is fake. Kikvadze added that this might not be the reality for 20 or 30 years, but he stressed the importance of looking far into the future when"
Bitfury evolved from a 2011 Bitcoin mining startup into multiple public companies and AI infrastructure ventures, with combined market value exceeding $9 billion. The company announced a $1 billion investment initiative to back mission-driven founders, planning to deploy $200 million in the next year and the remainder over several years. Target areas include ethical AI, quantum computing, transparent decentralized systems, and self-sovereign identity to give individuals control of their data via cryptography. Leadership emphasizes long-term planning for challenges such as universal AI avatars and verifying authenticity.
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