Fulgur Ventures led the round in the Montreal-based Bitcoin company, which plans to use the money to expand digital asset mining operations, develop and market software that will make transactions faster and cheaper and add more Bitcoin to its treasury. (The Logic)

Talking point: This marks Blockstream’s second convertible debt financing in less than two years. In January of last year—during the depths of the crypto winter following the collapse of 2022—the company raised US$125 million. At the time, Bloomberg had reported Blockstream was seeking new funding at a valuation that may be less than US$1 billion, a significant decrease from its US$3.2-billion valuation in 2021. In an email, Blockstream spokesperson Edward Moore declined to disclose the company’s current valuation. Blockstream and its CEO, Adam Back, feature prominently in an HBO documentary released last week that purports to identify pseudonymous Bitcoin creator Satoshi Nakamoto as Canadian software developer Peter Todd.