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 8 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 Enterprise Applications to High Tech and FinTech. Most recently it participated in the $***** Series C round of Axelera AI Overall, Bitfury portfolio has seen 1 IPO, namely Hut 8 Mining. A lot of funds co-invest with Bitfury, with names like Innovation Industries sharing a substantial percentage of its portfolio.Key Metrics
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 2 more
Portfolio IPOs
Deals in last 12 months
Bitfury's List of Top Investments
Bitfury has a portfolio of 8 companies. Their most notable investments are in Axelera AI and Emercoin.Their portfolio spans across United States, Argentina, Canada and 3 more locations. They have invested in Enterprise Applications, High Tech, FinTech and 4 other sectors, across stages such as Seed, Series A and 2 more. Here is the list of top investments by Bitfury:
1. Axelera AI
Tech platform focused on AI inference acceleration, offering hardware, software, and integrated systems. It provides high-performance, energy-efficient solutions for businesses deploying AI applications outside traditional cloud environments. It offers a portfolio of AI processing hardware, software development tools, and preconfigured systems designed to accelerate inference tasks for computer vision, large language models, and vision-language models.
Key facts about Axelera AI
- Founded Year: 2021
- Location: Eindhoven (Netherlands)
- Stage: Series C
- Total Funding till date: $450M
- Employee Count: 272 as on May 31, 2026
- Investors: Samsung Catalyst Fund, BlackRock 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: Colle Capital, Plug and Play Tech Center 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
- Investors: BITMAIN, Digital Currency Group and 5 Others
- Latest Funding Round: Seed, May 22, 2017, $*****
4. Hut 8 Mining
Digital asset mining and performance computing solutions for individuals. It enables users to access a proprietary mix of hardware, software, and operational expertise to construct, optimize and manage data centers in jurisdictions. It offers white-label high-performance compute hosting, as well as yield & income programs for users.
Key facts about Hut 8 Mining
- Founded Year: 2011
- Location: Toronto (Canada)
- Stage: Public
- Employee Count: 289 as on Mar 31, 2026
- Investors: Fidelity Investments, Firstblocks and 7 Others
- Latest Funding Round: Post IPO, Jan 02, 2022, $*****
- Highlight: Public
5. NuCypher
Data encryption solutions provider. It provides data security by delivering protocol for the end-to-end pluggable encryption of the database. It offers data encryption, decryption, and compression. It runs queries over encrypted databases without exposing decrypted data or keys to the server and without a proxy gateway. The features include sorting, searching, and querying data in the cloud, attack prevention, etc.
Key facts about NuCypher
- Founded Year: 2015
- Location: San Francisco (United States)
- Stage: Series B
- Total Funding till date: $15.8M
- Employee Count: 7 as on Mar 31, 2026
- Investors: DHVC, Amino Capital and 34 Others
- Latest Funding Round: Series B, Oct 07, 2019, $*****
- Highlight: Editors' Pick
Bitfury's Year-on-Year Investment Trends
Bitfury has invested in 10 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 Blockchain Technology, Enterprise Applications, High Tech, Business Services and Enterprise Infrastructure. Notably, it has invested in 7 Software companies, 7 Tech companies, 6 Enterprise (B2B) companies and at least 4 companies focusing on Blockchain.Sector | No. of Investments |
|---|---|
Blockchain Technology | 3 |
Enterprise Applications | 3 |
High Tech | 3 |
Business Services | 1 |
Enterprise Infrastructure | 1 |
Others | 3 |
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 |
Estonia | 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 | 6054 | ||
Nov 28, 2025 | United States | Series C | 5970 | - | |
Sep 15, 2021 | Netherlands | Seed | 6322 | [+2] | |
Oct 07, 2019 | United States | Series B | 5323 | [+8] | |
Jan 11, 2018 | Estonia | Series A | 7841 |
IPOs and Publicly Listed companies in Bitfury's Portfolio
1 of Bitfury's portfolio company became public - Hut 8 Mining. It got listed on the Toronto Stock Exchange - Venture Exchange (TSX-V), in Oct 2016 at marketcap of $1.32MHere are Bitfury's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Oct 20, 2016 | - | - | 8853 |
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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