Blockstream has announced ambitious growth plans for 2025, following a successful $210 million funding round in October 2024. CEO Dr. Adam Back emphasized the moment's significance for Bitcoin, noting increased institutional interest spurred by Spot ETFs. Blockstream Mining will operate independently after raising over $350 million. The ASIC division is also being separated to focus on hardware innovation. Additionally, Blockstream is launching new institutional investment products through its recently established Asset Management division to better serve enterprise and consumer markets.
We are at a pivotal moment for Bitcoin's growth," stated Blockstream Co-Founder and CEO Dr. Adam Back. "Spot ETFs have opened the floodgates, institutions are rushing to engage with Bitcoin, and individual interest is accelerating.
As part of its broader expansion, Blockstream Mining will now operate as an independent company under the same brand, having secured over $350 million in funding through a mix of equity, debt, and investments in the Blockstream Mining Note (BMN2).
Blockstream's ASIC division is being spun out as a separate company under the leadership of Assaf Gilboa, formerly EVP of Hardware. A second funding round is already underway, aimed at advancing ASIC R&D and foundry capabilities.
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