Blockstream, a Victoria-based Bitcoin infrastructure company has raised $210 million in a Series B funding round.
- According to a report by a Canadian news outlet, the funding round was led by U.K-based private equity firm Baillie Gifford and Hong Kong-based iFinex, which now values the firm at $3.2 billion.
- The company will use the new funds for its growth and the expansion of mining operations, said Samson Mow, Blockstream’s chief strategy officer.
- Mr. Mow said that many of Blockstream’s growth initiatives require large amounts of capital and that the company may raise more cash in “probably the coming months.”
- Blockstream will be the 15th Canadian company to acquire Unicorn status with others such as FreshBooks, Ada Support, Clio, Benevity, Clear Finance Technology Corp., Wealthsimple Technologies Inc., Trulioo Information Services Inc., and Tenstorrent Inc.
- In June, Blockstream partnered with Twitter CEO, Jack Dorsey-led Square to build a Bitcoin mine that runs on solar power.