Aug 26, 2021 09:00:00

Bitcoin infrastructure company 'Blockstream' announced that it has succeeded in raising funds with a valuation of 350 billion yen, joining the ranks of unicorn companies

Blockstream , an infrastructure company for Bitcoin and blockchain technology, raised $ 210 million on August 25, 2021 with a valuation of $ 3.2 billion. Was announced. As a result, the company has won the title of 'Unicorn Company ', which is sent to technology companies with a valuation of more than $ 1 billion.

Blockstream raises $ 210 million to enter ASIC development | Blockstream Corporation press release
https://prtimes.jp/main/html/rd/p/000000007.000029896.html

Blockstream Secures $ 210M Series B Financing
https://blockstream.com/2021/08/24/en-blockstream-secures-210m-series-b-financing/

Founded in 2014 by British cryptocurrency researcher Adam Back , Blockstream is a blockchain company based in Victoria, Canada. In 2014, the company raised $ 21 million in seed funds to develop Bitcoin's sidechain Liquid Network and Lightning Network , a remittance method for payments outside the blockchain. In addition, in 2016, we succeeded in raising $ 57 million (about 6.2 billion yen) in the Series A round. In 2017, we have been involved in many Bitcoin-related infrastructures, such as the launch of 'Blockstream Satellite,' which allows Bitcoin to be used from anywhere in the world using artificial satellites.

'Blockstream Satellite' where Bitcoin can be used from anywhere in the world using artificial satellites --GIGAZINE

Blockstream will raise $ 210 million at a valuation of $ 3.2 billion through a Series B round led by investment firm Baillie Gifford and crypto asset exchange Bitfinex operator iFinex. Was successful. According to the Canadian daily The Globe and Mail , the Canadian company that joined the unicorn company with a valuation of over $ 1 billion is the 15th on Blockstream since the outbreak of the coronavirus pandemic. That is.

The funds raised will be used to expand the Liquid Network and promote Blockstream Energy, a service that mines with renewable energy.

The company also plans to acquire Israeli mining equipment maker Spondoolies to establish a specialized ASIC department and launch enterprise mining software by 2022.

'We are honored to be involved in promoting mining and developing Liquid Network through our investment in Blockstream,' said Allen Farrington, investment manager at Baillie Gifford, in a statement. We are confident that the financial assets tokenized in Gifford have the potential to transform the structure of capital markets, and to enable the decentralization of financial infrastructure and democratization of investment through the development of Bitcoin. We look forward to working closely with Blockstream. '

'Blockstream has been at the forefront of Bitcoin innovation after seven years of building Bitcoin,' said Paolo Arduino, CTO of Bitfinex. It's clear that Blockstream's various technologies have potential, so I'm looking forward to launching a service that will have a revolutionary impact on the world by working with Blockstream. '