Bitcoin mining giant Bitfury has raised $80 million in a closed funding round. It will use the cash to support its growth and to expand in such adjacent market segments as AI.

The private placement was led by Korelya Capital. It was joined by Macquarie Capital, Dentsu Japan, Jabre, Lian Group, Argenthal, Armat Group, Foyer, MACSF, and Galaxy Digital and ITech Capital.

“As the market is maturing, we are witnessing an acceleration in the adoption of blockchain technologies throughout the world, in all domains, at both corporate and governmental level,” says Greg Revenu, Managing Partner of Bryan, Garnier & Co., which acted as sole financial advisor and placement agent for the Bitfury Group.

“This transaction illustrates the global institutionalisation of the industry. It also demonstrates the positioning of the company as the world leading B2B technology infrastructure provider, with a breadth of activities that enables the company to be seen as the proxy for a global blockchain investment thesis.”

Valery Vavilov, Founder and CEO of the Bitfury Group, comments: “Bryan, Garnier & Co did an outstanding job, demonstrating a deep understanding of our strategy and needs, with a strong control on the transaction process. Most importantly, they constantly provided us with sound advice and showed an indefectible commitment to the success of the transaction.”