Key Takeaways
- Blockstream secures $210 million to expand its Bitcoin treasury.
- The funding can also help Blockstream improve their mining operations and scaling solutions for Bitcoin.
- Blockstream appoints Michael Minkevich as COO to guide its strategic growth and capitalize on opportunities in the financial sector.
Blockstream Secures $210 Million To Accelerate Growth and Bitcoin Treasury Expansion
Blockstream has raised $210 million in a convertible note financing round led by Fulgur Ventures.
The funds could help expand the company's mining operations and boost its already-significant Bitcoin treasury.
This capital can also fuel the development of Blockstream’s scaling solutions for Bitcoin.
Blockstream’s Scaling Solutions for Bitcoin
Blockstream's scaling solutions include the Liquid Network, Greenlight and Core Lightning.
Liquid is a sidechain operated and managed by a globally distributed federation of more than 70 of Bitcoin's leading enterprises.
With more than $1.8 billion in assets issued on Liquid, the network enables tokenization and real-world asset integration.
Core Lightning is an open source implementation of the Lightning Network developed and maintained by the team at Blockstream.
Greenlight is a Lightning infrastructure service that provisions and manages Core Lightning nodes on behalf of its users.
Says CEO Dr. Adam Back,
“This latest fundraise represents a defining moment for Blockstream as we embark on a critical new phase of growth."
Leadership and Strategic Growth
Michael Minkevich has been appointed as Blockstream’s new Chief Operating Officer to lead its next phase of growth.
Minkevich brings experience in technology development and has previously played a key role in expanding global firms like Luxoft.
Blockstream is poised to lead the fintech transformation with its comprehensive suite of Bitcoin solutions for both asset issuance and payments.
