Bitcoin infrastructure firm Blockstream is the latest to enter the growing crypto unicorn club with its latest valuation at $3.2 billion.
<h2><strong>Blockstream Has Raised $210M in a Series B Funding Round</strong></h2>
Bitcoin infrastructure firm Blockstream has raised $210 million in a Series B funding round with a valuation of $3.2 billion, the company <a href="https://blockstream.com/2021/08/24/en-blockstream-secures-210m-series-b-financing/" target="_blank" rel="nofollow noopener">announced</a> Tuesday.

Investors who participated in the round included Scotland-based investment firm Baillie Gifford and iFinex, the parent company behind <a href="https://www.cryptoknowmics.com/news/defi-token-ftm-gets-listed-on-bitfinex-and-gemini/">Bitfinex</a> cryptocurrency exchange, and Tether <a href="https://www.cryptoknowmics.com/news/tether-moves-two-billion-usdt-around-the-blockchain-coins-from-tron-to-be-moved-to-ethereum/">stablecoin</a>. In addition, Blockstream also acquired the intellectual property of mining hardware manufacturer Spondoolies, a Bitcoin mining hardware manufacturer for undisclosed terms.
<blockquote><em>“Blockstream is bringing on-board the Spondoolies core team and acquiring related IP to launch the world’s first enterprise-class miner next year. The Spondoolies team’s pedigree in Bitcoin ASIC design and engineering complements our enterprise-class mining infrastructure and will accelerate our continuing expansion and decentralization of the Bitcoin mining space</em>,” Dr. Adam Back, CEO of Blockstream, commented.</blockquote>
In March, Blockstream announced the launch of a security token backed by the company’s mining operations to serve as a flexible alternative to investing in Bitcoin mining stocks or physical mining infrastructure.
<h2><strong>Latest Funding Will Monetize the Liquid Network</strong></h2>
The funding along with the acquisition will allow the company to advance its recently announced Blockstream Energy service in order to build a solar-powered mining facility in the United States. Furthermore, it will allow the development of its Liquid sidechain network.

Blockstream designed the Liquid Network as a sidechain-based settlement network for efficient low-cost settlement of Bitcoin transactions for high-volume traders and institutions. It's operated by a federation of cryptocurrency companies across the globe.

Unlike the main Bitcoin network, Liquid enables confidential transactions, identity verification, and faster settlement. Since its launch, the Liquid Network has bought more than $1.1 billion in network value and has seen impressive ecosystem growth with a number of platforms being built on the sidechain.

Blockstream is the Latest Crypto Unicorn with $3.2 Billion Valuation

Bitcoin infrastructure firm Blockstream is the latest to enter the growing crypto unicorn club with its latest valuation at $3.2 billion.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Blockstream is the Latest Crypto Unicorn with $3.2 Billion Valuation

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