Blockstream, a provider of bitcoin-based infrastructure services, announced today that it has raised $ 210 million on a $ 3.2 billion valuation as part of its Series B funding. This Series B was led by Baillie Gifford and iFinex, the operator of Bitfinex.
The new capital will be used to accelerate Blockstream’s Bitcoin mining efforts and acquisition of Spondoolies to start an enterprise-class miner, including advancing Blockstream’s Bitcoin sidechain (the Liquid Network) and expanding the Blockstream teams in all departments.
Also announced today, Blockstream has welcomed Baillie Gifford Investment Manager Allen Farrington to Blockstream as a board observer.
“Blockstream is at the forefront of innovation in Bitcoin, having built on top of the protocol for the past seven years. The potential for how all the different blockstream technologies fit together is clear. We look forward to working more closely with Blockstream in the future to bring this to market. “
– Paolo Ardoino, Bitfinex CTO