BitFury Adds Samsung President Young Sohn to Strategic Advisory Board

Journalist:
November 24, 2014

BitFury, a leading Bitcoin transaction processing and Bitcoin infrastructure provider, has announced that Young Sohn, Samsung Electronics president and chief strategy officer, has been added to their strategic advisory board. Young has been the president and chief strategy officer for Samsung Electronics since 2012. In addition to his laudable work at Samsung Electronics, Sohn has 30 years of semiconductor and manufacturing experience and has been the CEO and president of four other companies; in addition to this, he helped take three other companies public. Sohn began his career at Intel.

Also read: Bitcoin Foundation Chairman Says: “Samsung Will Be the Biggest Beneficiary of the Bitcoin Market”

Company expansion

BitFury looks to extend their reach into the consumer electronic device market by adding Sohn to the strategic advisory board:

“Young’s extensive experience in semiconductors and consumer electronics will enable us to explore business opportunities in the consumer electronic devices market.” “We are excited to welcome Young Sohn to our strategic advisory board which is comprised of some of the most distinguished technology and venture industry leaders,” said Valery Vavilov, CEO of BitFury. “Young’s extensive experience in semiconductors and consumer electronics will enable us to explore business opportunities in the consumer electronic devices market.”

Sohn then commented on his acceptance to the group:

“BitFury is well positioned with its custom design chip and data center technology. The company’s commitment to delivering results through strong and consistent execution of its business and growth strategy has not only allowed BitFury to become a highly respected global Bitcoin company, but to also see new opportunities. I am excited about the opportunity to serve as a strategic advisor to support BitFury’s ambitious goals.”

Bitfury now has more than 70 members globally working in management offices. The company is known for their infrastructure production, specifically in ASICs. From the start of the company, BitFury has raised over $40 million dollars in VC funding. With the addition of Sohn, BitFury continues to add well known, and successful people to their board. Sohn is currently working with Both BitFury and Samsung.

What do you think about the addition of Young Sohn to BitFury? Comment below!

Images via BitFury, Samsung, and Shutterstock.

Last modified (UTC): November 25, 2014 08:39

Drew Cordell (@DrewjCordell) @DrewjCordell

Drew is an undergraduate student at the University of Texas at Dallas, majoring in Business. He is an active member of the Cryptocurrency community, and enjoys collecting, trading, and writing about various coins. Outside of the digital currency world, Drew tends to spend his time with friends, playing video games, or studying.