Blockstream's Valuation Hits $3.2B after Series B Round
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Blockstream, a blockchain-focused company, has announced it has raised $210 million in a Series B round led by Baillie Gifford and iFinex, the operator of Bitfinex. With the latest investment, the company's valuation hits $3.2 billion.

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Blockstream says it will use the proceeds to accelerate bitcoin (EXANTE: Bitcoin) mining efforts and the acquisition of Spondoolies to launch "an enterprise-grade miner." The company added that Baillie Gifford Investment Manager, Allen Farrington, will also join Blockstream as a board observer.

"It is an honor to be involved with such an important company in the space and to be able to drive forward development of and institutionalization of both mining and the Liquid Network," said Farrington.

Blockstream CEO Compares Ethereum and XRP With Pyramid Schemes

Earlier this summer, Blockstream hinted it might issue a US dollar-denominated bond on a blockchain for El Salvador’s government. Blockstream CSO, Samson Mow, said the company representatives met with El Salvador government officials, however, no final decision has been made since then.

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