About Bitfury
Bitfury is a venture capital firm founded in 2011. It is primarily based out of Amsterdam, Netherlands. As of Feb 2026, Bitfury is an active investor, having invested in 11 companies, with 1 new investment in the last 12 months. It primarily invests in Series B round in United States based startups. Its investments are spread across a wide range of sectors from High Tech to Enterprise Applications and Blockchain Technology. Most recently it participated in the $***** Series C round of Axelera AI Overall, Bitfury portfolio has seen 2 IPOs and 1 acquisition, namely LiquidStack, Cipher Mining and Hut 8 Mining. A lot of funds co-invest with Bitfury, with names like Innovation Industries sharing a substantial percentage of its portfolio. Bitfury has team of 4 people including 1 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 2 more
Portfolio IPOs
Portfolio Acquisitions
Deals in last 12 months
Bitfury's List of Top Investments
Bitfury has a portfolio of 11 companies. Their most notable investments are in Axelera AI and Emercoin.Their portfolio spans across United States, Netherlands, Argentina and 2 more locations. They have invested in High Tech, Enterprise Applications, Blockchain Technology and 3 other sectors, across stages such as Seed, Series A and 2 more. Here is the list of top investments by Bitfury:
1. Axelera AI
Manufacturer of hardware accelerators and software for artificial intelligence inference. These products include processing units designed for integration into computing systems to perform neural network tasks. The hardware supports various form factors for deployment in edge computing environments. The accompanying software development kit provides tools for model deployment, compatibility, and system control. These components facilitate the execution of deep learning models for tasks such as computer vision and data analytics.
Key facts about Axelera AI
- Founded Year: 2021
- Location: Eindhoven (Netherlands)
- Stage: Series C
- Total Funding till date: $450M
- Employee Count: 294 as on Aug 31, 2026
- Investors: Samsung Catalyst Fund, Verve Ventures and 13 Others
- Latest Funding Round: Series C, Feb 24, 2026, $*****
- Highlight: Editors' Pick
2. AZA Finance
Software for cross-border remittance and forex management. It offers a solution that enables businesses to send and receive money globally. It provides API-based forex risk management, corporate treasury, and currency exchange solutions.
Key facts about AZA Finance
- Founded Year: 2013
- Location: London (United Kingdom)
- Stage: Series C
- Total Funding till date: $41.8M
- Employee Count: 115 as on May 31, 2026
- Investors: Greycroft, Red Key Capital and 23 Others
- Latest Funding Round: Series C, May 06, 2021, $*****
- Highlight: Editors' Pick
3. RootStock
EVM-compatible smart contracts platform. It connects the Bitcoin (BTC) blockchain to smart contracts. With its sidechain technology platform, users can move BTC onto the blockchain and convert it into smart Bitcoin.
Key facts about RootStock
- Founded Year: 2015
- Location: Buenos Aires (Argentina)
- Stage: Seed
- Total Funding till date: $4.5M
- Employee Count: 10 - 49 as on Mar 01, 2026
- Investors: BITMAIN, Digital Currency Group and 5 Others
- Latest Funding Round: Seed, May 22, 2017, $*****
4. LiquidStack
Platform offering data center cooling solutions. It provides cooling systems to manage the applications and chips. Features include heat rejection, configurations tracking, integrated dry cooler skid, convenience lighting, receptacles, fire suppression, tank based immersion cooling, and more.
Key facts about LiquidStack
- Founded Year: 2012
- Location: Carrollton (United States)
- Stage: Acquired
- Total Funding till date: $35M
- Employee Count: 64 as on Aug 31, 2026
- Investors: Tiger Global Management, Bitfury and 2 Others
- Latest Funding Round: Series B, Sep 19, 2024, $*****
- Highlight: Acquired
Mining infrastructure for cryptocurrencies and Bitcoin. It features an open-source network for transmission and storage.
Key facts about Cipher Mining
- Founded Year: 2017
- Location: New York City (United States)
- Annual Revenue: $100M - $500M as on Dec 31, 2024
- Stage: Public
- Employee Count: 101 as on Aug 31, 2026
- Investors: West Coast Equity Partners, SoftBank Group and 1 Other
- Latest Funding Round: Post IPO, Jan 30, 2025, $*****
- Highlight: Public
Bitfury's Year-on-Year Investment Trends
Bitfury has invested in 13 companies over the last 10 years, with an average of 1 new investment annually in the last 10 years. In 2025, it made 1 investment, while as of Feb 2026, it has made 1 investment in this year. Its most recent first time investment was in Gonka and most recent follow-on round was in Axelera AI.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 1 | 1 |
2025 | 1 | 0 | 1 |
2024 | 0 | 0 | 0 |
2023 | 0 | 0 | 0 |
2022 | 0 | 0 | 0 |
2021 | 1 | 0 | 1 |
2020 | 0 | 0 | 0 |
2019 | 1 | 0 | 1 |
2018 | 1 | 0 | 1 |
2017 | 1 | 0 | 1 |
Bitfury's Investments by Stage
Bitfury has made 2 investments in Seed stage with an average round size of $7.75M, 2 investments in Series A stage, 1 investment in Series B stage with an average round size of $10.7M and 1 investment in Series C stage with an average round size of $50M.Stage of entry | No. of Investments |
|---|---|
Seed | 2 |
Series A | 2 |
Series B | 1 |
Series C | 1 |
Note: We have considered here, only first round of investments
Bitfury's Investments by Sector
Bitfury has a diverse portfolio, with companies operating in the High Tech, Blockchain Technology, Enterprise Applications, Enterprise Infrastructure and FinTech. Notably, it has invested in 11 Tech companies, 9 Software companies, 8 Enterprise (B2B) companies and at least 6 companies focusing on Blockchain.Sector | No. of Investments |
|---|---|
High Tech | 4 |
Blockchain Technology | 3 |
Enterprise Applications | 3 |
Enterprise Infrastructure | 1 |
FinTech | 1 |
Others | 2 |
Note: We have considered here, only first round of investments
Bitfury's Investments by Geography
Bitfury has made most investments in United States (2), followed by Argentina where it has made 1 investment.Country | No. of Investments |
|---|---|
United States | 2 |
Argentina | 1 |
Netherlands | 1 |
United Kingdom | 1 |
Note: We have considered here, only first round of investments
Bitfury's recent investments
Bitfury has made 1 investments in 2026 so far - Axelera AI.Here are the most recent investments by Bitfury:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Feb 24, 2026 | Netherlands | Series C | 4884 | ||
Nov 28, 2025 | United States | Series C | 2393 | - | |
Sep 15, 2021 | Netherlands | Seed | 3154 | [+2] | |
Oct 07, 2019 | United States | Series B | 1069 | [+8] | |
Jan 11, 2018 | - | Series A | 7506 |
IPOs and Publicly Listed companies in Bitfury's Portfolio
2 of Bitfury's portfolio companies have become public. Cipher Mining got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Dec 2020 and Hut 8 Mining got listed on the Toronto Stock Exchange - Venture Exchange (TSX-V) at marketcap of $1.32M.Here are Bitfury's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Dec 07, 2020 | - | - | 3604 | |
Oct 20, 2016 | - | - | 4179 |
Acquired companies in Bitfury's Portfolio
1 company from Bitfury's portfolio has been acquired. The most recent acquisition was LiquidStack in Feb 2026 by Trane Technologies for $*****.Here are Bitfury's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Feb 10, 2026 | - | - | 3761 |
Team profile of Bitfury
Bitfury has a team of 4 members located in United Arab Emirates. Bitfury's team does not sit on the board of any company as of now.Co-investors of Bitfury
Over the past 10 years, 48 investors have co-invested in Bitfury's portfolio companies. This includes funds and angels.
- Invested before Bitfury: Digital Currency Group, Blockchain Capital and 17 others have invested in rounds before Bitfury. There are 2 companies where Digital Currency Group has invested before Bitfury and 1 company where Blockchain Capital has invested before Bitfury.
- Top Co-investors of Bitfury: 10 investors entered a company along with Bitfury. These include investors like Innovation Industries (1 company).
- Invested after Bitfury: A total of 19 investors have invested in Bitfury's portfolio after their investments. Top Investors include SFPI (1 company), Verve Ventures (1 company) and CDP Venture Capital (1 company).
Recent News related to Bitfury
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Axelera AI Secures More Than $250 Million Funding on Global Commercial GrowthSalesTech Star•Feb 25, 2026•Axelera AI, Verve Ventures, Invest-NL, CDP Venture Capital and 4 others
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BlackRock Backs Dutch Chipmaker Axelera AI in $250 Million RoundFinancial Post•Feb 24, 2026•Axelera AI, BlackRock, CDP Venture Capital, European Innovation Council and 7 others
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Bitfury Announces $50 Million Investment in Gonka–a Decentralized Network for High‑efficiency AI ComputeFinancial Post•Dec 02, 2025•Bitfury, Gonka, Coatue, Slow Ventures and 1 other
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Bitfury Launches $1 Billion Initiative to Advance Ethical Emerging TechnologiesFinancial Post•Nov 18, 2025•Bitfury, Y Combinator
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Bitfury Group Announces Approval of Distribution of Cipher Mining sharesSurge Battery Metals Inc•Feb 26, 2024•Bitfury, Cipher Mining
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Bitfury Group Announces Sale of 10 Million Shares of Cipher Mining Inc. Common Stock and Lock-Up Agreement for Remaining HoldingsGlobeNewswire•Nov 09, 2023•Bitfury, Cipher Mining
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