Blockstream Raises $210 Million to Advance Layer 2 and Mining

Blockstream announced it has raised $210 million in convertible notes to accelerate the adoption of Layer 2 technologies and expand its Bitcoin mining operations.

The investments will be used to develop the Liquid Network and increase the company’s mining capacities. Blockstream plans to boost its hashrate to 8 EH/s by 2025.

The fundraising indicates investor confidence in the prospects of Layer 2 technologies and growing interest in sustainable Bitcoin mining.