New Crypto Unicorn Emerges As Blockstream Locks in $3.2 Billion Valuation

Bitcoin infrastructure firm Blockstream is the latest company to reach unicorn status in the crypto industry, after raising $210 million with a valuation of $3.2 billion.

Blockstream, which focuses on various Bitcoin services like mining, custody and transferring, was co-founded by cypherpunk and crypto “OG” Adam Back, who some believe could be Satoshi Nakamoto, the pseudonymous creator of Bitcoin.

Blockstream’s recent capital raise came from two entities: Scotland-based investment management company Baillie Gifford and Hong Kong-based crypto exchange iFinex.

Baillie Gifford’s investment manager Allen Farrington also joined Blockstream as a board observer.

In a press release, Blockstream says the new capital will go towards expanding staff, accelerating BTC mining efforts, and helping with the recent acquisition of Israeli Bitcoin mining hardware manufacturer Spondoolies.

In June, Blockstream announced it had secured a partnership with tech giant Jack Dorsey’s Square Inc. for a Bitcoin mining facility that runs 100% off renewable energy.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/metamorworks

Source: https://dailyhodl.com/2021/08/24/new-crypto-unicorn-emerges-as-blockstream-locks-in-3-2-billion-valuation/