Blockstream always ahead – The minors of bitcoins they are on the razor’s edge and are extremely dependent on the price of the first cryptocurrency. After a very complicated 2022 and mixed prospects for this new year, it finally appears that the clouds have momentarily lifted over the sector. But among industry players, some fare better than others. And Blockstream it is one of those. This institutional hosting specialist has managed to get out of the game and is positioning itself better than ever head of the market.
Crypto winter does not affect the bitcoin mining specialist
2022 it was a delicate year for the sector with great protagonists on a grand scale difficulty. Between bitcoin price that it is plummeting and the price of energy is going up, some have not been able to withstand the shock, and Core Scientific is the perfect example. CEO Blockstream, Adam back goes further and also returns to the crisis of trust worldwide in the sector. For him, this is a sign that things need to change:
“With 2022 punctuated by multiple failures of centralized parties and protocols at scale, we believe this has been a learning experience for the market and that the core value of blockchains is to reduce the need to trust some third parties. The resulting refocus on security and decentralization provides an opportunity for market participants to transition to Bitcoin-based non-custodial architectures (…). »
And the refocusing he’s asking for could benefit his company, which is increasingly positioning itself as a leader in the sector. With 500 megawatts in its development projects, Blockstream would become the first operator world of BTC mining and obviously does not intend to stop there.
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New 125 million fundraising for Blockstream
This is how the company has just concluded a new round of financing which has allowed it to grow 125 million dollars. In the press release from him, the president and chief financial officer of Blockstream, Erik Svensonlooks back over the last few years and looks to the future:
“Blockstream’s $210 million Series B capital raise in August 2021 was used to build more mining facilities for institutional hosting and (…) to design and manufacture Blockstream’s ASIC. We will use the newly raised capital (…) to expand mining facilities to meet the strong demand for institutional hosting services and thus continue to build infrastructure for the future Bitcoin economy. »
The question of sharing extraction it’s actually steadily increasing, according to the Blockstream teams. Thanks to its good reputation, solid financial background and significant growth capacity, the company claims to attract more and more customers; the latter wanting to expose themselves to mining without incurring the operating costs.
Renewable energiesdevelopment of layers 2 on bitcoins and decentralization : Blockstream continues its development with these same goals in mind. The construction of an economy of the future entirely based on the Bitcoin network is part of the DNA of the company which intends to convince more and more players of the validity of this idea. But to achieve this, we should already start by twisting the neck a stereotypes still circulating widely in the media and in the collective unconscious.
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