Over $50K Raised by BitFury and GCF for Tbilisi Flood Victims

Bitcoin mining giant BitFury and its main investor, Georgian Co-Investment Fund (GCF), have announced their fundraising campaign to help recent flood victims in Tbilisi.

The flooding killed at least 12 people, with up to 10 still missing and dozens left homeless. Buildings, cars and roads were swept away. Hundreds of local zoo animals were killed as well, the damage causing several others to escape into the city.

Tbilisi, Georgia's capital, is home to GCF and a major part of BitFury's operations. Recently, BitFury announced its acquisition of a 2 million square foot plot in the city to develop the ‘Georgian Technology Park’ project, which will house a large data center for mining.

BitFury CEO Valery Vavilov and GCF CEO George Bachiashvili expressed their condolences for the victims, and expressed hope that they could be supported by the Bitcoin community.

Bitcoin and other Cryptocurrencies have been somewhat popularized for donation campaigns due to the relative ease and cost-effectiveness of sending smaller Payments worldwide.

A total of roughly 214.5 BTC (equal to $51,100), from 12 transactions, has been received at the address for donations thus far.