Blockstream, a fast-growing provider of bitcoin infrastructure and related solutions, has completed a recent Series B funding round. At the close of this financing effort, the firm raised US$210 and reached an impressive US$3.2 billion valuation.
An announcement issued by Blockstream indicated some of the investors who participated in the financing round, including Baillie Gifford and iFinex. Baillie Gifford’s investment will also see its investment manager Allen Farrington joining Blockstream’s board as a board observer.
The new capital injection will allow Blockstream to launch and expand its other mining offerings and services. It will also be used to finalize its acquisition of Spondoolies which will allow Blockstream to launch an enterprise-grade miner.
This, without a doubt, includes the Blockstream Energy product, a solution recently announced by Blockstream. This new product leverages renewable energy investments at power production sites.
Blockstream’s new mining infrastructure will be useful for partnerships around the globe, not exempting the firm’s recent alliance with Square. The said partnership will see the development of an open-source, solar-powered mining facility in the United States.
Pan Finance is a print journal and news website providing worldwide intelligence on finance, economics and global commerce. Known for our in-depth analysis and opinion pieces from esteemed academics and celebrated professionals; our readership consists of senior decision makers from across the globe.