Mon, February 06, 2023

AI Division to Be Launched by Bitfury Group Block Chain

Block Chain: The Bitfury Group sign on phone display.

Previously, Blockchain launched an artificial intelligence (AI) division infrastructure provider Amsterdam-based Bitfury. It will support missions of building new solutions across the emerging technologies landscape.

The Bitfury Group developed blockchain solutions for businesses, governments, organizations, and individuals.

Bitfury has been around since 2011. It is a full-service blockchain technology company and one of the largest private infrastructure providers in the blockchain ecosystem.

Additionally, it runs mining farms in Canada, Norway, Iceland, and the Republic of Georgia.

It is one of the few of blockchain companies around the world with at least a $1 billion valuation.

The new AI division will receive regulation from tech expert Fabrizio Del Maffeo. He previously served as the vice president and managing director of AAEON Technology Europe.

It will operate together with the company’s existing blockchain services.

The division will use Bitfury’s hardware and software technologies to advance integrated product solutions at the edge. It will also include cloud-to-edge enterprise solutions for governments and corporations.

The Need for Data Analyzing and Extracting

The chief executive officer and co-founder of Bitfury, Valery Vavilov, stated the need of analyzing and extracting of value from tons of available data.

It is the one that drove the company to go into artificial intelligence.

Vavilov stated, “Data is becoming the next oil…We have collected so much data, but only 2% of all this data has been analyzed, 98% is sitting idle and waiting to be analyzed.”

She also added, “The best and most efficient way to analyze the data is through artificial intelligence. We also need to trust that data so that’s where blockchain comes in.”

Bitfury appointed the veteran technologist Fabrizio Del Maffeo to lead the AI division.

He was also the former Vice President and Managing Director of AAEON Technology in Europe, which is the AI and IoT computing company within the ASUS Group.

Del Maffeo stated that he joined Bitfury because he trusts the company’s triumphs in blockchain and HPC confirms its strong commitment to increasing market access to emerging technologies.

He also said, “I look forward to leading Bitfury’s AI team and to launching products that make it easier, safer and more cost-efficient for businesses to adopt artificial intelligence at scale.”

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