Blockstream raises $125M to finance expanded Bitcoin mining operations

Blockstream raises $125M to finance expanded Bitcoin mining operations


Digital asset infrastructure company Blockstream has raised $125 million to finance its Bitcoin (BTC) mining colocation services, underscoring heightened demand for its institutional hosting services amid the bear market. 

The $125 million raise was financed by convertible note and a secured loan, Blockstream announced on Jan. 24. Venture capital firm Kingsway Capital led the convertible note raise, with additional participation from Fulgur Ventures. Cohen & Cohen Capital Markets, part of J.V.B. Financial Group, advised Blockstream on the deal.

[embedded content]

Trending: BREAKING: Brunson Brothers Case Is Back On!

The funding will enable Blockstream to expand mining capacity for institutional hosting customers — a segment the company said was “resilient” in the face of Bitcoin price volatility compared to so-called prop miners. This latter segment is “more directly exposed to Bitcoin price volatility and compressed margins,”

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Daily Truth Report • DailyTruthReport.com
Thanks for sharing!
Send this to a friend