Bitfury shifts away from Bitcoin mining to focus on AI and crypto startups. They plan to invest $1 billion in ethical emerging technologies. Bitfury was a pioneer in Bitcoin mining and spun out Cipher Mining and Hut 8. Many miners are leaving the industry due to rising costs, with some transitioning to AI. CEO believes crypto still has a significant role in society.

Bitfury will concentrate on AI, quantum computing, and transparent decentralized systems. The CEO sees synergy between AI and decentralized systems. The company has experience in AI, developing cooling solutions for data centers. They are also exploring self-sovereign identity solutions enabled through cryptography. Profitability in Bitcoin mining is decreasing due to rising difficulty and falling prices, impacting stock prices of mining companies.

Read more at CoinTelegraph: Bitfury Pivots From Bitcoin Mining to Launch $1B Tech Fund