Blockstream receives US$210 million in Series B financing to expand Bitcoin mining and sidechain plans »CryptoNinjas

Blockstream, provider Bitcoin-based infrastructure services, Today announced that it has raised US$210 million as part of its Series B financing, valued at US$3.2 billion. The B round of financing was led by Baillie Gifford and Bitfinex operator iFinex.

New capital will accelerate Blockstream’s Bitcoin mining Efforts and acquisition of Spondoolies to launch enterprise-level mining machines, which are also used for the continued development of Blockstream’s Bitcoin sidechain (Mobile network), and expand the Blockstream team in all departments.

It was also announced today that Blockstream welcomes Baillie Gifford investment manager Allen Farrington to join Blockstream as a board observer.

“In the past seven years, Blockstream has been building on the basis of this protocol and is therefore at the forefront of innovation in the Bitcoin field. The potential of how all the different Blockstream technologies can be combined is obvious. We are very happy to work with Blockstream in the future. Work more closely to bring it to the market.”
– Paolo Ardoino, Chief Technology Officer, Bitfinex

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