Valery Vavilov is a Latvian Entrepreneur and Blockchain enthusiast based in San Francisco, California. He has experienced life under the regime of the USSR. He is the Founder of BitFury. Prior to founding Bitfury, Valery spent more than 15 years in a variety of technical and leadership positions. 

Let us talk about 15 things you did not know about Varley.

1.Early Life

Varley grew up in Lativa in 1980s. He suffered a great deal when the Soviet Union collapsed in 1991; he saw his parents lose everything. Varley says “Money became paper. Patents become worthless.” This experience played a great role in shaping his thinking towards the need of having decentralized frameworks so that people could always retain their property.


Varley got his Master’d degree inComputer Science from Riga’s Transport and Telecommunication University in Latvia.

3.Intro to Crypto

Varley was introduced to Bitcoin first time in 2010. After learning about this technology he understood that this technology could change the world. He felt that everything could be digitized as the world that we are living in is digital. Blockchain and cryptocurrency with this technology is designed for secure transactions. So with the help of this technology he wanted to digitize the assets and anything of value. He left all his projects and focused on doing this.

 4.Prior to Bitfury

Varleu started programming when he was only 14 years old. He has spent a lot of time working in Eastern Europe. He has worked in various companies; he started as a software developer and IT manager at ZZDats

He was a Technology Advisor for, Co-Founder and CEO of, and Business and Technology Advisor for,, and

 5.Early struggles

Varley wanted to start a new company Bitfury but for four years he struggled to raise capital. Very few investors believed in the technology. So by selling his own Bitcoin as low as $30, he funded his business. Since Bitfury start, it has generated about 800,000 Bitcoins.


Bitfury was founded in 2011, when the blockchain technology was new and was just starting to capture the world’s attention. Bitfury is one of the largest private infrastructure providers in blockchain technology is a team of experts in technology, business, communications, security and civil society. 

Valery wanted to build technology that could improve the lives of people around the world, and he saw this opportunity in blockchain technology. Firstly, Varley focused on hardware solutions which would ensure security in Bitcoin Blockchain. Bitfury mined Bitcoin or used computers to solve the complex mathematical problems which added a new block of transactions to the blockchain and earned Bitcoin. The company has expanded and has maintained its position as one of the major public Bitcoin security and transaction provider, under Varley leadership. The company is baesd in Amsterdam.

7.Blockbox AC

The Bitfury Blockbox AC is one of the most powerful bitcoin mining devices in the market. Blockbox AC is a cost effective bitcoin mining units available on the market. Its key features are portability, quick-start installation, innovations, monitoring and cutting edge technology. Blockbox AC is mobile bitcoin mining machine which typically retails for more than $1million.


8.The Bitfury Group and the National Agency of Public Registry (NAPR)

The Bitfury Group has integrated a custom-designed blockchain system into the digital records of NAPR. Through a distributed digital timestamping service the permissioned Blockchain is anchored to the Bitcoin Blockchain. This service allows citizens the surety that their documents are legitimate without exposing any confidential information. Citizens are provided with a unique documentation called hash. This hash document is published to the Bitcoin Blockchain and can be verified whenever a request is made.

9.Bitfury and AIFC

In the Astana Economic Forum it was announced that Astana International Financial Centre (AIFC) and the Bitfury Company were going to create projects using the blockchain technology.

To diversify the work environment Bitfury plans to open data centres in Kazakhstan.

AIFC is ready to support the development and distribution of blockchain technology in Kazakhstan region. In order to develop human capital Bitfury plans to start education and training programmed in partnership with AIFC Bureau for Continuing Proffesional Development. The central Asian region would have opportunities to collaborate with major technology player creating products using the AIFC platform.

 10.Bitfury signed a deal with the Ukrainian government.

Bitfury discussion with Ukraine started in 2016.The project would introduce Blockchain into Ukraine’s existing e-governance platform. Ukraine already has online “e-services” for many government agencies like business registrations, public procurement, construction licensing and more. The goal of this project is to bring Blockchain to the existing e-government services and bring other services online using Blockchain to improve government efficiency and transparency.



Bitfury also focused on development of a blockchain based platform which can be used by large scale commercial companies outside the realm of Bitcoin. Exonum was launched by Bitfury which is an open source enterprise grade Blockchain framework. The company intended to utilize it to encourage governments and businesses to implement Blockchain. Exonum was developed and coded around transparency and immutability. More importantly, Bitfury focused on flexibility to enable users, companies and governments to build Blockchain systems that can automate and optimize existing operations.



Varley Vavilov was published in Forbes as one of the richest people in cryptocurrency. According to Forbes, Valery Vavilov’s net worth is between $500 and $700 million.

 13.Marriage registration on Bitcoin blockchain

A team member of Bitfury Group Alex Shevchenko secured his marriage registration on the Bitcoin Blockchain. In honor of his wedding, Bitfury will certify the marriages of 20 additional couples on the Bitcoin Blockchain this month. By attaching the marriage certificate to a small amount of bitcoin and sending it as a transaction, the marriage certificate is now a matter of global public record and will maintain the highest level of security and perpetuity.

Bitfury Group ensured the authenticity of the marriage of 20 couples by placing their marriage certificates in the bitcoin blockchain.

 “The blockchain is just beginning to turn into a means of storing state documents, and a marriage certificate is a great start,” said Valery Vavilov, Bitfury CEO.

14.Mobile Blockchain Summit 2019

Blockchain summit 2019 was held in June on Sir Richard Branson’s Necker Island. It was hosted by Bitfury, Actai Global and the Global BlockchainBusiness Council. The summit invites world leaders and visionaries for a set of intimate discussions highlighting critical issues and solutions and to lay out the framework for a world where humans are fully benefitted from blockchain technology.

15.Education Initiative BEBIG

Bitfury Group launched ‘BEBIG’ (Bitfury Educational Blockchain Initiative for Good) a global education initative which would advance the adoption of blockchain as the technology of digital trust. Varley said that every person had a right to an equal education to adopt blockchain.