Blockstream Preps New Sale of Notes Designed to Profit From Rebounding BTC Mining-Rig Prices

A pitch for the notes describes the investment strategy like this: “Leveraging Blockstream’s long track record, leading market position, substantial scale, broad expertise and strong relationships across the ASIC supply chain, the BASIC structure plans to acquire and warehouse new and unused ASICs at attractive prices, and to eventually strategically sell them back into the market as the industry rebounds within the next 12-24 months.” Source

Blockstream CEO Forecasts Bitcoin Surpassing $100K before BTC Halving, Sparking Divided Reactions

Anticipation is building for the approval of a spot Bitcoin ETF in January 2024. If it happens, it could bring a significant influx of at least $12 billion to $14 billion into the BTC market, potentially driving up the price. A bold Bitcoin (BTC) price prediction by CEO Adam Back of blockchain technology company Blockstream has sparked both optimism and skepticism within the cryptocurrency community. Back believes BTC could exceed $100,000 per coin before its next halving event, but his outlook goes against trends that the coin has had during…

Blockstream plans $50M raise to buy miners

Blockchain technology firm Blockstream is looking to raise up to $50 million to purchase and store mining equipment that it perceives to be undervalued on secondary markets. Speaking exclusively to Cointelegraph, Blockstream mining sales head James Macedonio unpacked the company’s plans to take advantage of a “huge separation” in the value of Bitcoin (BTC) and ASIC mining equipment. Blockstream is partnering with Luxembourg-based digital securities marketplace STOKR to launch the Blockstream ASIC (BASIC) Note. Macedonio said that blockstream will look to initially secure $5 million for its Series 1 BASIC…

Blockstream CEO Adam Back responds to US crypto pressure

Amid the mounting regulatory pressures on cryptocurrency exchanges, Blockstream CEO Adam Back highlights the inherent resilience and adaptability of the crypto industry, insisting that it will continually find ways to navigate and thrive despite these challenges. Adam Back, the CEO of Blockstream, shared some insights on the resilience of the cryptocurrency industry during the recent BTC Prague conference. He painted an optimistic picture of the sector’s ability to adapt to changing regulatory landscapes. Antifragility in cryptocurrency sector “Antifragility is the norm here,” Back said to Decrypt. He explains that when…

Blockstream Developer Neigut Expects ‘Cambrian Explosion’ of Bitcoin Layer 2 Protocols

Ryan Gentry, director of business development at Lightning infrastructure firm Lightning Labs, said during his own presentation at Consensus that Lightning is the only network of its kind in crypto. “Lightning is unique,” Gentry said. “There is not, to my knowledge, another widespread payment channel network in the whole crypto space. Lightning is the only one and it’s scaling really well.” Source

ZeroSync and Blockstream to Broadcast Bitcoin Zero-Knowledge Proofs From Space

“The security of Bitcoin requires every participant to verify every transaction,” ZeroSync co-founder Robin Linus told CoinDesk. “That didn’t scale well until now. Proof systems like STARKs have been invented. Applying them to generate a proof of Bitcoin’s chain state, and broadcasting it via satellite, can bring Bitcoin to almost everyone in the world. Don’t trust, verify.” Source

Bitcoin could hit $10M in 9 years but more sidechains needed: Blockstream CEO

Blockstream CEO Adam Back believes the price of Bitcoin (BTC) could reach $10 million by the end of the sixth halvening in 2032, as long as Bitcoin layer-2 technology and wallet infrastructure improves. In a Feb. 12 Twitter thread, Back, one of the contributors to Bitcoin core, was explaining to his 509,000 followers in what situation Hal Finney’s $10 million price prediction for BTC could come true. He noted that BTC has doubled in price year-on-year on average since 2013 and explained that if that trend continues, BTC price would…

Blockstream Raises $125M to Expand Bitcoin Mining Operations

Blockstream has over 500 Megawatts in its development pipeline to expand its Bitcoin mining facility for institutional investors. Blockstream Inc, a leading Bitcoin and blockchain infrastructure company, has raised  $125 million in a convertible note and secured loan financing. According to the announcement, Blockstream intends to use the money to expand its institutional Bitcoin mining colocation services. The just-concluded fundraising was led by Kingsway Capital and Fulgur Ventures. This follows last year’s $210 million Series B funding round that was used to expand its institutional Bitcoin mining operations. Additionally, the…

Crypto Infrastructure Firm Blockstream Raises $125M for Bitcoin Mining

“This fundraise allows us to accelerate the [year-over-year] revenue growth we created with our 2021 Series B and continue to build infrastructure for the future Bitcoin economy,” said Blockstream President and Chief Financial Officer Erik Svenson. “We remain focused on reducing risk for institutional bitcoin miners and enabling enterprise users to build high-value use cases on the most secure, robust and scalable blockchain in the world – Bitcoin,” he added. Source