Blockstream, a leader in Bitcoin infrastructure, has successfully raised $210 million in convertible note financing.

CEO Adam Back emphasized that this financing represents a pivotal moment for Blockstream, pushing the company to the forefront of Bitcoin’s integration into global finance​.

The funding round, led by Fulgur Ventures, will accelerate the adoption of Blockstream’s Layer-2 technologies, including the Liquid Network and the Lightning Network, while also boosting the company’s mining operations ahead of the next Bitcoin cycle. This investment will further grow Blockstream’s already substantial Bitcoin treasury, one of the largest globally​.

Blockstream has closed a $210M convertible note financing round led by @FulgurVentures, driving our mission to bring Bitcoin into global finance.

This capital accelerates layer-2 development, expands mining ahead of the next Bitcoin cycle, and grows one of the world’s largest… pic.twitter.com/gi1ov0LCYU

— Blockstream (@Blockstream) October 15, 2024

The Liquid Network, which launched in 2018, is one of Blockstream’s key Layer-2 solutions, designed to enable faster Bitcoin transactions and secure digital asset issuances, such as stablecoins and security tokens.

Over $1.8 billion in assets have been issued on the Liquid Network to date, highlighting its increasing role in financial markets. Blockstream’s ambitious plan includes expanding this network and integrating more real-world assets into Bitcoin’s ecosystem​.

In addition to Layer-2 growth, the newly secured capital will allow Blockstream to enhance its Bitcoin mining operations, positioning the company to capitalize on the anticipated surge in Bitcoin demand following the 2024 halving event​.

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