Digital asset infrastructure company Blockstream has raised $125 million to finance its Bitcoin mining co-location services, underscoring heightened demand for its institutional hosting services amid the bear market.
) mining co-location services, underscoring heightened demand for its institutional hosting services amid the bear market.on Jan. 24. Venture capital firm Kingsway Capital led the convertible note raise, with additional participation from Fulgur Ventures. Cohen & Cohen Capital Markets, part of J.V.B. Financial Group, advised Blockstream on the deal.
The funding will enable Blockstream to expand mining capacity for institutional hosting customers — a segment the company said was “resilient” in the face ofcompared to so-called prop miners. This latter segment is “more directly exposed to Bitcoin price volatility and compressed margins,” Blockstream said.
“We remain focused on reducing risk for institutional bitcoin miners and enabling enterprise users to build high-value use cases,” said Erik Svenson, Blockstream’s president and chief financial officer.
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Crypto Infrastructure Firm Blockstream Raises $125M for Bitcoin MiningBitcoin infrastructure firm Blockstream raised $125M in convertible note and secured loan financing to expand its bitcoin mining hosting services. by Aoyon_A
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