Statement by The Bitfury Group

Statement by The Bitfury Group

The Bitfury Group  responds to the unfounded assertions recently made by politicians.

We would like to openly express our official position that the ButFury company, which is the largest global technology company (with capitalization of almost 1 bln USD), in the period of 2014-2015 was utilizing the Co-investment Fund credit, which in 2015 was replaced by a bank loan provided by Bank of Georgia (BOG), with which we have been in financial and business relations.

Similarly to Iceland, Norway and Canada, in Georgia The Bitfury Group owns mining centers, but for quite a while no mining has been done in Gori, accordingly, there is no more need for excess power there (there is only a technical support center) and mining is done only in Tbilisi (Gldani District) data center.

As to the electricity fees, payments, tariffs and may be privileges, to which part of Georgian politicians appeal as usual, we would like to bindingly state that since the times we started operating in Georgia and till now, the Bitfury Group has never enjoyed any advantages or benefits at any stage of its operation.

To confirm this, before the end of the week, we will publish all the details of utility payments (buying and selling electricity) made by our company”.

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