European Blockchain Tech Firm Bitfury Completes $80 Million Private Placement Round

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The Bitfury Group, a UK-based full-service blockchain technology company, announced on Wednesday it has closed its $80 million USD private placement with global institutional and corporate investors. According to Bitfury, Bryan, Garner & Co. acted as sole financial advisor and placement agency of the syndication.

The Private Placement was led by Korelya Capital, the European growth capital firm backed by Korean digital giant Naver Group which was joined by global institutional and corporate investors such as Macquarie Capital and Dentsu Japan, European fund managers Jabre, Lian Group, Argenthal and Armat Group, insurance groups Foyer and MACSF, as well as Galaxy Digital.

Founded in 2011, Bitfury reported it has been at the forefront of the blockchain revolution, providing high-performance computing technologies and processing capacities, as well as some of the most advanced software solutions for governments and corporations to deploy real-life blockchain business solutions. It was revealed:

“Bitfury employs 700 people in 15 countries across North America, EMEA and Asia, and operates 5 data centers located in Iceland, Canada, Georgia and Norway. Bitfury leveraged on a strong momentum characterized by a triple digit growth and more than half a billion dollars in revenues to expand its shareholder base.”

Speaking about the funding round, Greg Revenu, Managing Partner of Bryan, Garnier & Co., stated:

“This transaction illustrates the global institutionalization of the industry. It also demonstrates the positioning of the company as the world leading B2B technology infrastructure provider, with a breadth of activities that enables the company to be seen as the proxy for a global Blockchain investment thesis.”

Valery Vavilov, Founder and CEO of the Bitfury Group went on to add:

 “Bryan, Garnier & Co did an outstanding job, demonstrating a deep understanding of Bitfury’s strategy and needs, with a strong control on the transaction process. Most important, they constantly provided us with sound advice and showed an indefectible commitment to the success of the transaction.”

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