Bitfury Holdings announces transfer of 8.5 million shares of Hut 8

Bitfury Holdings announces transfer of 8.5 million shares of Hut 8

The proceeds will help the company support the R&D requirements of Hut 8 along with fostering Bitfury’s capital system

Netherlands-based Blockchain technology leader- Bitfury Holding BV has reportedly announced that the firm has sold approximately 8,477,687 common shares of Hut 8 Mining Corp. On the 12th of February 2021, the company filed an intention to transfer through secondary, an additional common shares of 8,500,000 of Hut 8.

Notably, through the proceeds, Bitfury aims at accelerating the research and development, mainly around next-gen ASICs chip development, that will positively influence the company’s expanding global ecosystem of partners and clients, including Hut 8. The proceeds will also be used to boost Bitfury’s capital structure.

According to Valery Vavilov, Founder, and CEO of Bitfury, since the establishment of Hut 8, Bitfury has remained a key shareholder and a technology and service partner for the former’s data centers. Hut 8 has constantly showcased growth and followed sustainable business practices that have led to the establishment of an independent and strong infrastructure despite the challenging market conditions, Vavilov added.

Incorporated in the year 2009, the Amsterdam headquartered major provider of large-scale digital asset infrastructure solutions- Bitfury Group has emerged as a leading full-service blockchain technology solutions provider over the years.

In addition to the above, the company holds a major presence in the UK, Hong Kong, Japan, Korea, Kazakhstan, Georgia, Norway, and Canada. Bitfury is known to have developed seven generations of its micro-chips and has also deployed and operates various data centers for its customers.

Seemingly, in the year 2019, The World Economic Forum awarded the company as a “Technology Pioneer”. Forbes has included Bitfury in its prestigious FinTech 50 ranked list in both 2018 and 2019 as well as in the Forbes Blockchain 50 list in both 2019 and 2020.

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