{"id":15231,"date":"2022-12-07T12:00:32","date_gmt":"2022-12-07T12:00:32","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/blockstream-raises-new-funds-but-loses-70-of-valuation-vs-2021-funding-round\/"},"modified":"2022-12-07T12:00:32","modified_gmt":"2022-12-07T12:00:32","slug":"blockstream-raises-new-funds-but-loses-70-of-valuation-vs-2021-funding-round","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/blockstream-raises-new-funds-but-loses-70-of-valuation-vs-2021-funding-round\/","title":{"rendered":"Blockstream Raises New Funds But Loses 70% of Valuation Vs. 2021 Funding Round"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>According to a <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-12-06\/crypto-firm-blockstream-seeks-fresh-funding-at-a-lower-valuation-in-tight-market?leadSource=uverify%20wall\">Bloomberg article<\/a> quoting sources familiar with the matter, crypto infrastructure provider Blockstream aims to raise funding at a valuation of less than $1 billion.<\/p>\n<p>However, Blockstream CEO Adam Back quickly corrected the article in a response to on-chain analyst Dylan LeClair who distributed the news-fact on Twitter. Back said that his company has already raised the funds.<\/p>\n<p>If this is true, this signifies a huge decrease in valuation for the company, which raised $210 million in a Series B funding round with a valuation of $3.2 billion in 2021. In 2021, the company purchased Israeli bitcoin mining gear maker Spondoolies.<\/p>\n<p>Blockstream, which was created in 2014, intended to expand into the production of specialized mining chips known as ASICs. The company has not formally reacted to the Bloomberg article.<\/p>\n<p>In April 2022, Blockstream <a href=\"https:\/\/igaming.org\/crypto\/tesla-blockstream-and-block-join-hands-to-mine-bitcoin-in-texas-by-using-solar-energy\/\">announced<\/a> that it was one of the company\u2019s to start a pilot crypto mine in Texas, powered by a Tesla solar installation, alongside Block, Jack Dorsey\u2019s business.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/blockstream-raises-new-funds-but-loses-70-of-valuation-vs-2021-funding-round\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) According to a Bloomberg article quoting sources familiar with the matter, crypto infrastructure provider Blockstream aims to raise funding at a valuation of less than $1 billion. However, Blockstream CEO Adam Back quickly corrected the article in a response to on-chain analyst Dylan LeClair who distributed [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":15232,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/15231"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=15231"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/15231\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/15232"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=15231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=15231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=15231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}