{"id":16905,"date":"2023-01-26T07:48:32","date_gmt":"2023-01-26T07:48:32","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/blockstream-raises-125m-to-expand-bitcoin-mining-ops\/"},"modified":"2023-01-26T07:48:32","modified_gmt":"2023-01-26T07:48:32","slug":"blockstream-raises-125m-to-expand-bitcoin-mining-ops","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/blockstream-raises-125m-to-expand-bitcoin-mining-ops\/","title":{"rendered":"Blockstream Raises $125M to Expand Bitcoin Mining Ops"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>Blockstream, a cryptocurrency infrastructure business, obtained $125 million in convertible note and secured loan funding to expand its <a href=\"https:\/\/igaming.org\/cryptocurrencies\/section\/how-mining-works\/\">bitcoin mining<\/a> hosting services.<\/p>\n<p>The business, which received $210 million in August at a $3.2 billion valuation, said in a news release Tuesday that the cash will be used to expand its mining facilities to fulfill growing demand for large-scale hosting services.<\/p>\n<p>The valuation of Blockstream was not mentioned in the company\u2019s fresh investment round. However, it was reported on December 7 that the business is looking to raise <a href=\"https:\/\/igaming.org\/crypto\/blockstream-raises-new-funds-but-loses-70-of-valuation-vs-2021-funding-round\/\">financing at a 70% lower valuation than its previous round<\/a>, around $1 billion.<\/p>\n<p>The statement read:<\/p>\n<p><em>\u201cHosting has remained a resilient market segment as compared with \u2018prop\u2019 miners (and their lenders) who have been more directly exposed to bitcoin price volatility and compressed margins.\u201d<\/em><\/p>\n<p>Blockstream was created in 2014 with the intention of developing infrastructure and apps based on the Bitcoin network. CEO <a href=\"https:\/\/igaming.org\/crypto\/bitcoin-can-still-go-5x-and-break-100000-this-year\/\">Adam Back<\/a> (creator of Hashcash, a technology for deterring spam emails that informed Satoshi Nakamoto\u2019s proof-of-work consensus mechanism design for Bitcoin) and nine others co-founded the company.<\/p>\n<p><strong>Blockstream President and Chief Financial Officer, Erik Svenson, said\u201d<\/strong><\/p>\n<p><em>\u201cThis fundraise allows us to accelerate the [year-over-year] revenue growth we created with our 2021 Series B and continue to build infrastructure for the future Bitcoin economy. We remain focused on reducing risk for institutional bitcoin miners and enabling enterprise users to build high-value use cases on the most secure, robust and scalable blockchain in the world \u2013 <a href=\"https:\/\/igaming.org\/cryptocurrencies\/section\/what-is-a-bitcoin\/\">Bitcoin<\/a>.\u201d<\/em><\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/blockstream-raises-125m-to-expand-bitcoin-mining-ops\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) Blockstream, a cryptocurrency infrastructure business, obtained $125 million in convertible note and secured loan funding to expand its bitcoin mining hosting services. The business, which received $210 million in August at a $3.2 billion valuation, said in a news release Tuesday that the cash will be [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":16906,"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\/16905"}],"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=16905"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/16905\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/16906"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=16905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=16905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=16905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}