Crypto Company Blockstream Seeks Funds: ‘Unicorn’ Could Lose Status

Crypto infrastructure company Blockstream has sought funding, facing losing its “unicorn” status after the FTX bankruptcy lowered valuations in the cryptocurrency market.

by Bloomberg December 6 based on the information of sources close to the subject in in the published article, Blockstream’s valuation nearly 1 in 3 with a lower valuation is seeking funding reported. The Montreal-based company last year 3.2 billion dollars had valuation and Baillie Gifford and iFinex from investors such as 210 million dollars had raised funds.

Sources, new valuation 1 billion dollarsHe said it could be below. Although some sources indicate that the amount may vary, Blockstream 1 billion dollars under valuation unicorn status will lose.

Blockstream CEO Adam BackAlthough it does not disclose the size of the financing round or the valuation amount, the funds to be collected capacity increase stated to be used for Back stated that capacity is selling quickly and they have a large backlog of new customers along with miners looking for large-scale hosting.

CEO says Bitcoin price and mining profitability fall hosting rates. in the last quarters increased stated. This field of activity for them a fast-expanding high-margin business It was also among the statements of the CEO.

On the other hand, the CEO corrected a user message stating that they were trying to raise funds through their social media account during the day, saying that the statement that they were trying to raise funds was wrong because the fund was not funded. reported that they had collected.

source site-9