Blockstream raising funds for mining at 70% lower company valuation

The depths of a bear market may not be the best time to raise funds but that is exactly what Blockstream is doing. The crypto infrastructure firm is seeking fresh funding, but at a much lower valuation than previous rounds, according to a Dec. 7 Bloomberg report. Blockstream was valued at $3.2 billion when it held its last Series B funding round raising $210 million in August 2021. Today that valuation may have fallen almost 70% to below $1 billion according to the report. The company, founded in 2014, has…

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Finance Redefined: Samson Mow’s DeFi question, Fireblocks expands to institutional and more

The week was filled with several new project developments and key updates from leading decentralized applications (DApps) and decentralized finance (DeFi) protocols. Fireblocks has expanded its institutional access to Terra’s DeFi ecosystem and Solana partnered with the Notifi network to improve the abysmal participation rates in governance votes. We will also look into the Cointelegraph research into the Terra ecosystem’s future and see if it can sustain the current growth. Samson Mow, the former executive at Blockstream, questions the decentralized aspect of the DeFi ecosystem. Top DeFi tokens saw another…

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Blockstream $210 Million Raise – Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides

[ad_1] The below is from a recent edition of the Deep Dive, Bitcoin Magazine‘s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now. As covered yesterday by Bitcoin Magazine’s very own Nik Hoffman, the Bitcoin infrastructure and services company Blockstream has raised $210 million in funding during its most recent seed round, valuing the company at $3.2 billion. “Some of the money raised will be spent on advancing Blockstream’s bitcoin mining products and services like…

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SpaceChain, Blockstream and Cryptosat – Cointelegraph Magazine

[ad_1] In the 1988 “Crypto Anarchist Manifesto,” engineer, author and cypherpunk Timothy C. May predicted a social and economic revolution enabled by technological developments, including high-speed networks, personal computers and satellites. Today, former Bitcoin core developer Jeff Garzik — now with SpaceChain — and others are making this vision a reality. Private crypto companies including SpaceChain, Blockstream, Cryptosat and others are rapidly launching satellites into orbit to offer blockchain validation, multisignature wallets and verifiable time-delay functions from space. As the cryptocurrency market continues its overall moonward trajectory, the stakes are…

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Blockstream To Launch Finance Division

[ad_1] Bitcoin infrastructure company Blockstream will acquire bitcoin hedge fund manager Adamant Capital to serve as the basis of Blockstream Finance, a new division focused on offering bitcoin-focused investment products built on the Liquid sidechain, per a release shared with Bitcoin Magazine. Blockstream highlighted its recently-launched Blockstream Mining Note (BMN), a Liquid-based security token that is designed to give investors exposure to Bitcoin mining, as an example of the types of financial products it wants to provide through the new division. “The groundwork laid by Adamant Capital will enable Blockstream…

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Blockstream Launches Bitcoin Mining Token

[ad_1] Today, Bitcoin infrastructure firm Blockstream announced the launch of a Liquid-based security token called Blockstream Mining Note (BMN), envisioned as a way to give investors exposure to Bitcoin mining. “Each BMN token entitles investors to hash rate produced by Bitcoin miners at Blockstream’s colocation facilities around the globe,” according to a Blockstream press release shared with Bitcoin Magazine. “The BMN allows investors to mitigate risk beyond the scope of a traditional investment in physical mining infrastructure by more easily adjusting their exposure to Bitcoin mining by packaging mining in…

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