Developing infrastructure for the Bitcoin (BTC) blockchain, Blockstream has received an investment of $125 million to expand its operations in the mining industry.
According to Blockstream’s statement, Kingsway Capital and Fulgur Ventures have invested $125 million in convertible bonds and secured debt in the company.
To corporate clients in the mining industry hosting Blockstream, which provides service, will also be in August 2021 in order to establish new mining facilities. 210 million dollars had invested.
According to the statement made by Blockstream management, the new fund of $ 125 million will be provided by institutional customers. “high demand” It will be used to meet the demand and expand mining facilities.
Blockstream also with renewable energy-based mining products will continue to do related work and develop its own bitcoin miner.
According to Blockstream CFO Erik Svenson, the company’s future focus is “reducing the level of risk taken by institutional bitcoin miners” it will be.