Blockstream Raises $210 Million to Advance Mining Products

Blockstream, the global leader in Bitcoin and blockchain technology, has raised $210 million as part of a Series B financing, boosting its valuation to $3.2 billion. 

Investors in the latest founding round include Baillie Gifford, iFinex and Bitfinex. The funding is expected to advance Blockstream’s other mining products and services, including its brand-new product Blockstream Energy. 

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Furthermore, the capital brought through the financing will enable the firm to develop the network and introduce new offerings based on the Liquid Network.

“Blockstream is bringing on-board the Spondoolies core team and acquiring related IP to launch the world’s first enterprise-class miner next year. The Spondoolies team’s pedigree in Bitcoin ASIC design and engineering complements our enterprise-class mining infrastructure and will accelerate our continuing expansion and decentralization of the Bitcoin mining space,” Dr. Adam Back, CEO of Blockstream, commented.