Blockstream Completes $210 Million Convertible Note Financing Round

Blockstream, a bitcoin infrastructure firm, announced on Tuesday the successful closure of a $210 million convertible note financing round, led by the investment firm Fulgur Ventures. According to the firm, the funds will be directed toward accelerating the adoption and development of Blockstream’s layer two (L2) technologies, such as the Lightning network and Liquid. Additionally, the financing will support the expansion of the company’s bitcoin (BTC) mining operations and its BTC treasury. Blockstream’s L2 solutions aim to address scalability issues by building on top of Bitcoin’s base layer, facilitating faster and more efficient transactions.