Blockstream, a cryptocurrency infrastructure company, raised $125 million in convertible note and secured loan financing to expand its bitcoin mining hosting services. The company, which raised $210 million in August at a $3.2 billion valuation, said in a press release Tuesday that the proceeds will be used to expand its mining facilities to meet strong demand for large-scale hosting services. “When compared to ‘prop’ miners (and their lenders), who have been more directly exposed to bitcoin price volatility and compressed margins, hosting has remained a resilient market segment,” the statement continued. The valuation of Blockstream was not mentioned in the company’s new funding round.
