BitFury also brought on Bob Dykes, founder and president of Tanjarine and former CFO of VeriFone, to its board of directors.

The advisory board will work closely with the BitFury leadership team on the technology side to build on the company’s silicon leadership position as it pursues more advanced semiconductor technologies and implementation. The advisory board will also bring its substantial venture experience to assist management on the corporate development of the company.

“The new additions to BitFury’s board of directors and advisory board represent some of the highly respected experts in the technology and venture industries,” said Valery Vavilov, CEO of BitFury. “These new members of our board of directors and advisory board will provide valuable input to ensure that BitFury is well positioned to retain its leadership role in silicon design and technology in the fast-paced and constantly evolving virtual currency marketplace.”

BitFury’s newest advisory board members are:

• Dr. Jackson Hu, a 35-year semiconductor industry veteran, who previously served as the Chairman and CEO of UMC, the world’s second largest semiconductor foundry. Dr. Hu also has extensive experiences in IC design and EDA tool. He is presently the Chairman and CEO of NeoEnergy Microelectronics and a Venture Partner of WI Harper.
• Jonathan Teo is the founder and partner of Binary Capital focusing on early stage consumer technology. Prior to founding Binary Capital, Jonathan led investments at General Catalyst Partners, Benchmark Capital, and was responsible for international R&D growth at Google.

“What impressed me early on in my conversations with BitFury was the revelation that they’ve designed custom, ASIC chips that go to market at the same design efficiency as standard chips,” said Dr. Hu. “It struck me as ingenious—I hope to build on that technology and business leadership by imparting some of the lessons I learned in my career.”

Teo also weighed in regarding his appointment by saying, “BitFury is poised for rapid, global expansion, and I’m optimistic and excited about supporting the company’s ambitions with the strong support of the board of directors and advisors Valery and team have put together."

In addition to the new advisory board members, joining BitFury’s board of directors will be Bob Dykes, founder and president of Tanjarine and former CFO of VeriFone, Juniper Networks and Symantec. Dykes will head Budget and Audit Committee. He brings 35 years of experience in semiconductors and payments processing industry. As a member of the board of directors, Dykes will help further establish BitFury as a cryptocurrency infrastructure leader.

The newly appointed board of advisors will offer guidance, counsel and advice as well as provide bold ideas and unique perspective to the company. The diverse background of new advisors uniquely complements the strengths and expertise of BitFury’s leadership team.