Bitcoin Infrastructure Firm Blockstream Raises $210 Million
- Proceeds to be used to accelerate layer-2 technology rollout
- Michael Minkevich is also named as chief operating officer
Blockstream Chief Executive Officer Adam Back
Photographer: Eva Marie Uzcategui/BloombergThis article is for subscribers only.
Bitcoin developer Blockstream Corp. raised $210 million through a convertible note offering that will be used to finance the rollout of the company’s layer-2 technologies, expand mining operations and to buy more of the cryptocurrency.
Fulgur Ventures led the funding round, Montreal-based Blockstream said in a statement Tuesday. Co-founded in 2014 by Chief Executive Officer Adam Back, Blockstream was one of the earliest crypto infrastructure firms. The firm also announced the appointment of Michael Minkevich as chief operating officer. Minkevich was previously responsible for product engineering at Luxoft Holdings Inc.