Blockstream collects $ 125 million to expand institutional bitcoin mining services
Blockstream collects $ 125 million to expand institutional bitcoin mining services
Blockstream, a leading Bitcoin infrastructure provider, announced on January 24 that it has raised $ 125 million in financial resources to expand its institutional Bitcoin mining services.
This financing round was directed by Kingsway Capital, a private equity fund based in Great Britain, and included the participation of other investors such as Fulgur Ventures and Cohen & Company Capital Markets.
This is the first remedial procurement for block stream since its 2021 series, in which the company raised $ 210 million in order to accelerate the construction of mining facilities of the enterprise class with hosting functions for institutional customers. After this financing round, block stream achieved an assessment of $ 3.2 billion.
block stream indicates institutional Bitcoin Hin Mining Services.
The company has increased demand for its hosting services due to its strong track balance and considerable size as well as an industry-wide due to a lack of available electricity capacity. This hosting service has remained a resistant market segment compared to "prop" miners, the operation of which was affected by the price volatility of Bitcoin and the cryptoma market.
Erik Svenson, President and CFO of Blockstream, said that this new funds would enable the company to accelerate its sales growth in the annual comparison and to continue building a better infrastructure that contributes to the economic future of Bitcoin.
Svenson emphasized the company's focus on the "reduction of the risk of institutional miners" by building high -quality use cases on the safest blockchain in the world, Bitcoin.
2022: The year in which we learn not to rely on centralized projects
Adam Back, CEO of Blockstream, said that 2022 was a learning year for the market, and referred to the numerous project errors and fraud that caused massive money losses and the closure of several crypto companies. He believes that these bad experiences should serve as a learning opportunity to "reduce the need to depend on third parties".
he encouraged the actors in the crypto ecosystem, to decentralized structures and non-kept Bitcoin-based architectures such as the simple contracts of liquid to have the full custody of their funds.
Back also emphasized that the simple contracts of liquid-active dealers enable self-storage via offline limit order, non-kept options and secured loans, everything from the safety of the dealer's own hardware wallet, which is protected by his own keys. This technology is compatible with both decentralized and central order book exchanges.
In addition, the recent market failure and frauds are reminiscent of the importance of decentralization and self-storage in the crypto ecosystem.
While 2022 for many enthusiasts in the crypto ecosystem was a year full of bad experiences, it undoubtedly served as a learning experience for the crypto community to understand that there will be always malicious actors who lurk to take advantage of-and experienced-people.
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