BitFury is acquiring a privatised land plot in the Republic of Georgia to build a technology park

BitFury Group, the leading Bitcoin Blockchain infrastructure provider and transaction processing company, announced today that it is acquiring a privatised 185 000 sq m land plot located in Gldani District in Tbilisi from the Georgian National Agency of State Property to develop the Georgian Technology Park project.

BitFury will be the first tenant in the Technology Park where it will build a mega data centre with up to 100 MW energy capacity to process transactions using its latest generation 28 nm and the upcoming 16 nm ASIC chips.

The new project will take full advantage of the proprietary immersion cooling technology enabled by Allied Control which BitFury has acquired earlier this year. The company has developed its third-generation immersion cooling system to create energy-saving data centre cooling systems for high performance computing applications.

The CEO of BitFury Valery Vavilov commented: "We are pleased to commence our new project in the Republic of Georgia which envisages the development of the special technology zone with the aim of attracting international technology players, as well as building our latest mega data centre. Our investment decision was made based on our previous experience of doing business in the Republic of Georgia. Our current data centre located in Gori in Georgia, which was developed in cooperation with Georgian Co-Investment Fund, proved to be a major success, and as a result, we saw further potential in continuing doing business and investing in this country."

BitFury currently has two data centres: in Iceland and the Republic of Georgia. The company chose Georgia because of the country's attractive investment climate and ease of conducting business. Low energy cost and competitive labour market have also played big part in the decision-making.