The blockchain technology specialist plans to a accelerate its Bitcoin mining with proceeds from a round co-led by iFinex at a $3.2bn valuation.

Canada-based Bitcoin and blockchain technology developer Blockstream raised $210m on Tuesday in a series B round co-led by iFinex, the operator of cryptocurrency exchange Bitfinex, and investment firm Baillie Gifford.

Founded in 2014, Blockstream develops blockchain technology, the distributed ledger that underpins cryptocurrency, and it seeks to build the financial infrastructure for the crypto-economy. The round valued it at $3.2bn.

The money will be used to speed up the company’s Bitcoin mining activities, purchasing Bitcoin mining hardware manufacturer Spondoolies, expanding…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
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