Blockstream, a leading Bitcoin (BTC) infrastructure company, has raised $210 million in a successful funding round led by Fulgur Ventures, a venture capital firm focused on Bitcoin and Lightning Network startups. This influx of capital comes as the company gears up for the next wave of Bitcoin activity.
The new funding will enable Blockstream to accelerate the development of layer-2 solutions, expand its Bitcoin mining operations, and grow its already substantial Bitcoin treasury, one of the largest in the world.
Adam Back, Blockstream’s CEO, expressed his excitement about the capital raise and welcomed Michael Minkevich as the company’s new Chief Operations Officer. Back emphasized the importance of this funding in advancing Blockstream’s mission to integrate Bitcoin with the broader financial system.
The $210 million was raised through convertible notes, a flexible financing instrument that allows for conversion into equity during a future funding round. Blockstream sees this investment as a crucial step towards bridging Bitcoin with traditional finance, with the potential to reshape the future of both the cryptocurrency and the financial industry.
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