Canadian Bitcoin miner Blockstream joins the ranks of crypto unicorns at a valuation of US$3.2B

Canadian Bitcoin (Bitcoin) Infrastructure company Blockstream, co-founded by Cryptographer and cypherpunk Adam Back, Reaching unicorn status with the latest valuation of US$3.2 billion.

The company focuses on various Bitcoin-related areas – including being a Mining service provider And develop infrastructure based on renewable energy “Green” veteran cryptocurrency -According to Canadian media reports, US$210 million was raised in the latest round of financing Newspapers Globe and Mail.

New supporters of Blockstream join Existing investors, such as Twitter CEO Jack Dorsey, Is the private equity firm Baillie Gifford headquartered in the United Kingdom and Hong Kong-based private equity firm Baillie Gifford iFinex, operator of the cryptocurrency exchange Bitfinex.

In a statement on the reasons for Blockstream’s $3.2 billion valuation and new capital investment, Baillie Gifford wrote that it “respects Blockstream’s founders and management team very much” and believes that “its settlement network for Bitcoin-based assets and securities Has the potential to change the design and operation of capital markets.”

According to reports, Blockstream Chief Strategy Officer Samson Mow said that this investment will support the company’s further growth and help it expand its mining business. The company recently acquired ASIC manufacturer Spondoolies, and according to Mow, the company plans to develop its own ASIC mining machine for its own operations and sell it in the retail market “sometime in 2022.”

Related: Unicorns in crypto: more and more billion-dollar crypto companies

Mow also revealed that Blockstream’s goal is to raise more funds in the coming months to expand its various initiatives.So far, these must include Blockstream satellite network, Where Broadcast the Bitcoin blockchain around the world 24/7 And launched a service called Blockstream Energy, which Allow energy producers to sell surplus electricity Proof of work miners.

In March of this year, Blockstream announced the launch Security token backed by the company’s mining business, Designed to be a more flexible alternative to investing in Bitcoin mining stocks or physical mining infrastructure.