{"id":39596,"date":"2024-10-15T21:30:46","date_gmt":"2024-10-15T21:30:46","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-firm-blockstream-secures-210m-to-drive-layer-2-growth\/"},"modified":"2024-10-15T21:30:46","modified_gmt":"2024-10-15T21:30:46","slug":"bitcoin-firm-blockstream-secures-210m-to-drive-layer-2-growth","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-firm-blockstream-secures-210m-to-drive-layer-2-growth\/","title":{"rendered":"Bitcoin firm Blockstream secures $210m to drive layer-2 growth"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/bitcoin-btc-coins-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/bitcoin-btc-coins-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/bitcoin-btc-coins-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/05\/bitcoin-btc-coins-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Blockstream will use the $210 million debt funding to boost adoption of its layer-2 solutions<\/li>\n<li>The company will also utilise the funds to add to its mining operations and treasury.<\/li>\n<\/ul>\n<p>Blockstream, a <a href=\"https:\/\/coinjournal.net\/news\/tag\/bitcoin\/\">Bitcoin<\/a> infrastructure company founded by industry OG Adam Back, has announced it raised $210 million to fund various aspects of the company\u2019s business.<\/p>\n<h2>Firm eyes L2 growth, mining and Bitcoin treasury<\/h2>\n<p>Blockstream said in a <a href=\"https:\/\/blockstream.com\/press-releases\/2024-10-15-blockstream-secures-210m-dollars-led-fulgur-ventures-drive-layer-2-growth-expand-bitcoin-treasury\/\" target=\"_blank\" rel=\"noopener\">press release<\/a> 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 \u201cthe next Bitcoin market cycle.\u201d<\/p>\n<p>In August 2023, the firm <a href=\"https:\/\/blockstream.com\/press-releases\/2023-01-24-blockstream-raises-usd-125m-to-expand-mining-operations\/\" target=\"_blank\" rel=\"noopener\">raised $125 million<\/a> that it used to expand its mining as the market looked to the 2024 Bitcoin halving that happened in April.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Blockstream has closed a $210M convertible note financing round led by <a href=\"https:\/\/twitter.com\/FulgurVentures?ref_src=twsrc%5Etfw\">@FulgurVentures<\/a>, driving our mission to bring Bitcoin into global finance.  <\/p>\n<p>This capital accelerates layer-2 development, expands mining ahead of the next Bitcoin cycle, and grows one of the world\u2019s largest\u2026 <a href=\"https:\/\/t.co\/gi1ov0LCYU\">pic.twitter.com\/gi1ov0LCYU<\/a><\/p>\n<p>\u2014 Blockstream (@Blockstream) <a href=\"https:\/\/twitter.com\/Blockstream\/status\/1846193752999608427?ref_src=twsrc%5Etfw\">October 15, 2024<\/a><\/p>\n<\/blockquote>\n<p>As well as the L2 initiatives, which includes the <a href=\"https:\/\/coinjournal.net\/news\/blockstreams-liquid-network-shows-huge-promise-for-a-maturing-bitcoin-market\/\">Liquid Network<\/a> sidechain launched in 2018, Blockstream is eyeing further growth by using the funding to purchase more BTC. The company is one of the largest holders of Bitcoin.<\/p>\n<p>\u201cThis latest fundraise represents a defining moment for Blockstream as we embark on a critical new phase of growth to further bridge the gap between Bitcoin and the wider world of finance,\u201d said Blockstream co-founder and CEO Adam Back.<\/p>\n<p>As well as the debt funding, Blockstream announced that it had expanded its leadership with a new appointment. Michael Minkevich will now steer the company\u2019s next growth phase as the chief operations officer. The new COO formerly worked at publicly-traded firm Luxoft as a product engineer lead.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/bitcoin-firm-blockstream-secures-210m-to-drive-layer-2-growth\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) 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, [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":39597,"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":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/39596"}],"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\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=39596"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/39596\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/39597"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=39596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=39596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=39596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}