Blockstream Raises USD $125M to Expand Mining Operations
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Tuesday, January 24, 2023
USD, Mining, ASIC, CFO, Miner, Core, Kingsway, Spondulix, Yoy, Acquisition, Risk, CLN, Cryptocurrency, Liquid, Blockstream, Carpe Fulgur, Bitcoin
MONTREAL, Jan. 24, 2023 /PRNewswire-PRWeb/ -- Leading Bitcoin infrastructure firm Blockstream has announced raising USD $125 million in convertible note and secured loan financing to expand its institutional bitcoin mining colocation services. Kingsway Capital led the convertible note, with other investors including Fulgur Ventures. Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC, is acting as exclusive financial advisor to Blockstream.
Key Points:
- MONTREAL, Jan. 24, 2023 /PRNewswire-PRWeb/ -- Leading Bitcoin infrastructure firm Blockstream has announced raising USD $125 million in convertible note and secured loan financing to expand its institutional bitcoin mining colocation services.
- With over 500 Megawatts in its development pipeline, Blockstream is one of the world's largest bitcoin mining operators.
- Blockstream will also expand its renewable energy mining products, and continue developing its own bitcoin miner - the first institutional-grade bitcoin miner purpose-built to scale.
- Recent events in the broader cryptocurrency industry underscore the value and importance of the work Blockstream is doing in both blockchain development and bitcoin mining.