The firm Blockstream, infrastructure developer for Bitcoin, announced that it had closed its second round of financing for USD 210 million, which will be used to develop Bitcoin mining hardware, among other things.
The announcement, shared this morning by Blockstream, specifies that the company will work together with the renowned Israeli Bitcoin mining hardware manufacturer Spondoolies, to create a more energy efficient ASIC equipment.
Among the participants of the round, the investment firm Baillie Gifford and iFinex , operating company of the exchange Bitfinex were mentioned. ). Blockstream achieved with this round a valuation of USD 3.2 billion , they pointed out, thus becoming a so-called “unicorn” company, a term applied to companies of rapid growth, innovation and capitalization reaching or exceeding the value of USD 1 billion.
Blockstream also announced that part of the money would be used to develop its network Liquid , Bitcoin side chain where assets and tokens can be issued, creating a financial ecosystem.
The Liquid network has reached a network value of $ 1.1 billion and has seen significant growth in the ecosystem with a wide range of platforms, from services like Hodl Hodl, SideSwap and TDE, to Tether, the leading stablecoin in the world. market, all while leveraging our sidechain.
Blockstream
The strategy is to decentralize Bitcoin mining
Today, Adam Back, founder of Blockstream, and who has even been said to be the person behind the identity of Satoshi Nakamoto, stated in an interview that Blockstream would help decentralize the manufacture of Bitcoin miners, preventing it from being geographically concentrated in China .
In the announcement, Blockstream claims to follow these strategies to “fulfill its mission of building the financial infrastructure on the Bitcoin network.”
In CriptoNoticias we have reported several of its initiatives, such as the new containers that were launched a few days ago to mine Bitcoin by taking advantage of energy surpluses.
On June 7, Blockstream partnered with Square Crypto to build a solar-powered Bitcoin mine. Also, on April 7 they issued a token on their Liquid network, which offers exposure to Bitcoin mining.
The company is one of the pioneers of Bitcoin, as well as its technological innovators with various software and hardware solutions.
