News25 August 2021

Latest Round Of Funding Raises over $200 Million For Blockstream

Blockstream B-Series Funding

Summary

· Blockstream raises $210 million in the last B series funding

· Funding round led by Betfinex operators

· Blockstream appoints Allen Farrington as a board observer

Recent reports show that Blockstream has managed to secure more than $200 million in their latest funding round, increasing the market value of Blockstream to $3.2 billion.

The series B funding round was led by Betfinex operators Baillie Gifford and iFinex. This new round of financing will be channeled towards building a Blockstream financial infrastructure on Bitcoin to accelerate Blockstream’s mining operations.

Part of the $210 million will acquire Spondoolies, helping Blockstream launch its enterprise-grade miner even as it focuses on its liquid network. The team hopes to expand its hodlers to keep up with the growth.

Blockstream also welcomes Baillie Gifford’s investment manager, Allen Farrington, as a board observer. Allen has experience in the Bitcoin ecosystem, is an active member of the BTC community, and is a vocal supporter of Blockstream.

Blockstream continues to scale the heights in delivering important Bitcoin infrastructure. With a liquidity network valued at more than $1.1 billion, Blockstream is at the forefront of innovations in the crypto space.

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