# Valery Vavilov

> Latvian technology entrepreneur Valery (Val) Vavilov co-founded Bitfury with Valery Nebesny in 2011. The company expanded from Bitcoin mining chips and data centers into blockchain software, AI hardware and cooling technology. Vavilov connects his interest in durable ownership and trusted records to his childhood experience of the Soviet collapse. Bitfury currently identifies him as CEO, co-founder and chairman; in November 2025 it announced a $1 billion initiative to invest in ethical emerging technologies.

- **Role:** Co-Founder, CEO & Chairman at Bitfury
- **Organizations:** Bitfury, Axelera AI
- **Nationality:** Latvian
- **Education:** M.S. in Computer Science, Transport and Telecommunication Institute, Riga, Stanford Executive Program (executive education), Stanford University Graduate School of Business
- **Known for:** Co-founded Bitfury in 2011 and led its expansion from mining hardware into software and AI infrastructure., Bitfury’s official biography credits eight generations of specialized chips under his leadership., Helped develop the Georgian blockchain land-registry project with the National Agency of Public Registry.

## Career timeline

- **1998-2004** — Software developer, analyst and lead focused on GovTech at ZZ Dats, as listed in public professional-profile records.
- **2004-2012** — Advisor and co-founder of technology companies in Latvia and Ukraine, as listed in public professional-profile records.
- **2011** — Co-founded Bitfury with Valery Nebesny.
- **2016** — Bitfury supported the MIT Bitcoin Developer Fund and began a land-registry pilot with Georgia.
- **2017** — Signed an agreement expanding the Georgian land-registry project; Bitfury helped launch GBBC.
- **2019** — Bitfury launched an AI division and Exonum Enterprise.
- **2021** — Became chairman and chief vision officer when Brian Brooks was appointed CEO effective October 29.
- **2025** — As co-founder and CEO, announced Bitfury’s $1 billion emerging-technology investment initiative.

## Achievements

- Co-founded Bitfury in 2011 and led its expansion from mining hardware into software and AI infrastructure.
- Bitfury’s official biography credits eight generations of specialized chips under his leadership.
- Helped develop the Georgian blockchain land-registry project with the National Agency of Public Registry.
- Led Bitfury into a $1 billion investment initiative announced in November 2025.

## Latest updates

- **2026-03** — Trane Technologies completed the acquisition of Bitfury-incubated LiquidStack on March 3.
- **2026-02** — Axelera AI announced more than $250 million in funding, with Bitfury participating as an existing investor.
- **2025-11** — Bitfury announced a $1 billion initiative to back ethical emerging technologies and its pivot toward an investment firm.

## Links

- Website: https://bitfury.com/
- LinkedIn: https://www.linkedin.com/in/valvavilov
- Twitter/X: https://x.com/ValVavilov

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Profile page: https://yespress.io/valery-vavilov
Published by YesPress — https://yespress.io
Last updated: 2026-10-20