BitFury Announces Technology Roadmap for Sustained Industry Leadership

SAN FRANCISCO & AMSTERDAM--()--BitFury Group, the leading bitcoin infrastructure provider and bitcoin transaction processing company, today announced its roadmap to lead the industry with the most advanced ASIC, system and datacenter technology. BitFury has achieved its market leadership position by delivering class-leading capability utilizing mature 55nm silicon process technology. Going forward, BitFury’s new products will take advantage of the state-of-the art silicon manufacturing, enabling as much as an order-of-magnitude improvement.

With this transition, the company expects to gain a substantial competitive advantage, planning to achieve energy efficiency of 0.2 joules-per-gigahash (J/GH) by the fourth quarter of 2014 and sub-0.1 J/GH by mid-year of 2015. Energy efficiency is the primary metric that determines bitcoin transaction processing economics, as it drives both capital costs (mainly semiconductor purchases and datacenter capacity) and operating costs (mainly electricity).

BitFury expects to achieve this efficiency through its unmatched custom silicon design capabilities, building on the track record of three prior high-volume production designs. The low-power consumption, unmatched performance and cost advantages of a full-custom implementation offer significant competitive advantage over the alternative standard-cell design approaches to silicon design.

“BitFury’s full-custom design experience is one of our core company strengths that our world-class design team continues to enhance at the speed of Bitcoin,” said Valery Vavilov, BitFury chief executive officer.

BitFury’s latest generation devices will use a new execution methodology for enhanced design scalability that will enable BitFury to more rapidly scale its chips to the most advanced silicon process nodes, thus gaining the time-to-market benefits of a standard-cell methodology while maintaining the energy efficiency advantage of full-custom chips.

In 2014, the company launched a wide-scale production of its chips and servers, as well as the development and production of its own data centers. This experience and the company’s know-how will enable BitFury to expand its data centers’ capacity to greater than 100 megawatts in due course, a scale advantage that will provide another significant competitive advantage.

“Our ability to project such expansion is a testament to our execution, which has provided us the resources to gain much greater scale,” said Valery Vavilov.

Along with this increase in scale, the company plans to sell at least half of the computing power to current and new customers. BitFury remains committed to maintaining the transparency and the trust of the Bitcoin network where it already splits its compute power capacity between itself and third party hosting customers. BitFury also remains committed to growing its transaction processing infrastructure with the smallest carbon footprint, continuing to rely on hydroelectric and geothermal energy sources.

More information is expected to be released in fourth quarter of 2014 with the first shipments of BitFury’s next generation products.

ABOUT BITFURY GROUP: BitFury Group is the leading bitcoin infrastructure provider and bitcoin transaction processing company. Founded in 2011, BitFury currently has more than 60 employees globally at management offices in San Francisco and Amsterdam, as well as data-centers in Finland, Iceland and the Republic of Georgia. BitFury derives sustainable advantage through its custom-made application-specific integrated circuits (ASICs) optimized to achieve the lowest power consumption coupled with the highest processing metrics – the parameters that drive mining margins. BitFury has an impressive track record, having successfully delivered three prior generations of silicon and has a roadmap to at least double performance-per-watt every 6-12 months. BitFury’s management team and board include seasoned industry veterans with a history of execution in silicon engineering, operational build-up and capitalizing businesses.

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BitFury Group
Janna McManus, 1-650-400-7256

Release Summary

BitFury announces technology roadmap to lead the industry with the most advanced ASIC, system and datacenter technology.


BitFury Group
Janna McManus, 1-650-400-7256