Bitcoin firm Blockstream secures $210m to drive layer-2 growth
Blockstream will use the $210 million debt funding to boost adoption of its layer-2 solutions The company will also utilise the funds to add to its mining operations and treasury. Blockstream, a Bitcoin infrastructure company founded by industry OG Adam Back, has announced it raised $210 million to fund various aspects of the company’s business. Firm eyes L2 growth, mining and Bitcoin treasury Blockstream said in a press release on Oct. 15 that the convertible note round, led by venture capital firm Fulgur Ventures, will help to fast-track the adoption of its layer-2 platforms. Blockstream will also use part of the funding to boost its mining operations ahead of “the next Bitcoin market cycle.” In August 2023, the firm raised $125 million that it used to expand its mining as the market looked to the 2024 Bitcoin halving that happened in April. Blockstream has closed a $210M convertible note financing round led by @FulgurVentures, driving ...