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Victoria’s Blockstream Joins Crypto Unicorns With USD $3.2 Billion Valuation

August 24, 2021 by Techcouver Newsdesk Leave a Comment

Victoria-based Bitcoin infrastructure firm Blockstream has raised USD $210 million as part of our Series B financing and has hit unicorn status with its latest valuation at USD $3.2 billion.

The new capital will go towards accelerating their Bitcoin mining efforts and the acquisition of Spondoolies to launch an enterprise-grade miner, continuing to scale the Liquid Network, and expanding their team of dedicated hodlers across all departments to keep pace with growth.

RELATED: Blockstream Is Hiring Now

Blockstream’s new backers, which join existing investors such as Twitter CEO Jack Dorsey, are the United Kingdom-based private equity firm Baillie Gifford and Hong Kong-based iFinex, the operator of crypto exchange Bitfinex.

Blockstream was founded by Dr. Adam Back and a group of developers passionate for Bitcoin and its potential to transform money.

In 2014 the startup raised USD $21 million in seed funding and began building that vision through the Liquid Network, a Bitcoin sidechain, and c-lightning, one of the main implementations of the Lightning Network.

In 2016 they raised a USD $57 million Series A round.

Filed Under: News Tagged With: Blockstream, unicorn, Victoria

 

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