The Victoria-based Bitcoin company said it would use the funds to expand its team, scale its software for building financial products on Bitcoin and expand its mining capabilities by acquiring Israel-based hardware manufacturer Spondoolies. U.K. investment-management firm Baillie Gifford and Hong-Kong based iFinex—which owns cryptocurrency exchange Bitfinex and stablecoin issuer Tether—led the Series B round. (The Logic)
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The Victoria-based Bitcoin company said it would use the funds to expand its team, scale its software for building financial products on Bitcoin and expand its mining capabilities by acquiring Israel-based hardware manufacturer Spondoolies. U.K. investment-management firm Baillie Gifford and Hong-Kong based iFinex—which owns cryptocurrency exchange Bitfinex and stablecoin issuer Tether—led the Series B round. (The Logic)
Talking point: Blockstream was founded in 2014 and is led by Adam Back, who played an important role in Bitcoin’s early history. Blockstream announced plans to help the government of El Salvador with its transition to Bitcoin as legal tender, which takes effect on Sept. 7. Blockstream chief strategy officer Samson Mow told BetaKit progress on a blockchain-based U.S.-dollar-denominated bond in partnership with the company has been slow in recent weeks. The fundraise makes Blockstream the latest entrant in Canada’s unicorn club, which, as my colleague Aleksandra reported, has welcomed many new B.C. members this year.
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