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Blockstream, a leading bitcoin infrastructure developer, has successfully raised $210 million in a convertible note financing round, spearheaded by Fulgur Ventures. This capital infusion aims to accelerate the adoption of Blockstream’s Bitcoin Layer 2 solutions, notably the Liquid Network and Core Lightning. These technologies are designed to enhance bitcoin transactions’ speed and cost-efficiency, making them more accessible.
Adam Back, co-founder and CEO of Blockstream, stated, “This latest fundraise represents a defining moment for Blockstream as we embark on a critical new phase of growth to further bridge the gap between Bitcoin and the wider world of finance.” The company also plans to expand its mining operations and boost its bitcoin treasury in anticipation of the next bitcoin market cycle.
With over $1.8 billion in assets issued on Liquid, including stablecoins and tokenized bonds, and more than 3,844 BTC locked onchain, Blockstream is cementing its position as essential infrastructure within the Bitcoin ecosystem. This move is poised to leverage the growing interest in bitcoin as a key asset class and drive the broader adoption of tokenization.
