A number of hedge fund companies, banks and other institutional investors from around the globe are betting on blockchain company Bitfury’s success.

The San Francisco-based company announced it raised $80 million in a private placement sale of stock to these institutions, Finance Magnates reported.

Some of those investing included Korelya Capital of France, a subsidiary of Korean corporation Naver Group; Macquarie Capital of Australia; Lian Group of Hong Kong; iTech Capital of Latvia; and Galaxy Digital, a digital asset merchant bank from New York.

Bitfury began as a bitcoin (BTC) mining operation in 2011 but has since branched out in a number of directions including launching a protocol called “Crystal” that tracks suspicious behavior on the bitcoin blockchain.

Executive Vice Chairman George Kikvadze said in a statement the $80 million will “position us for our next phase of growth as the market matures.” Read more here.

ThirtyK Staff
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