February 5, 2023

Blockstream raises $125M to finance expanded Bitcoin mining operations By Cointelegraph

© Reuters.

Digital asset infrastructure company Blockstream has raised $125 million to finance its (BTC) mining colocation services, underscoring heightened demand for its institutional hosting services amid the bear market.

The $125 million raise was financed by convertible note and a secured loan, Blockstream announced 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.