Blockstream, a supplier of bitcoin-based infrastructure providers, as we speak introduced that it has raised $210 million as a part of its Collection B financing on a valuation of $3.2 billion. This Collection B was led by Baillie Gifford and iFinex, the operator of Bitfinex.
The brand new capital will go in the direction of accelerating Blockstream’s Bitcoin mining efforts and the acquisition of Spondoolies to launch an enterprise-grade miner, additionally for continued improvement of Blockstream’s Bitcoin sidechain (the Liquid Community), plus increasing the Blockstream crew throughout all departments.
Additionally introduced as we speak, Blockstream has welcomed Baillie Gifford Funding Supervisor Allen Farrington to Blockstream as a board observer.
“Blockstream is on the forefront of innovation within the Bitcoin house after constructing on prime of the protocol for the final seven years. The potential of how the entire totally different Blockstream applied sciences match collectively is obvious. We’re excited to work extra carefully with Blockstream sooner or later to carry this to market.”
– Paolo Ardoino, CTO of Bitfinex