Bitcoin and blockchain infrastructure company Blockstream has completed $125 million in convertible note and secured loan financing

ChainCatcher news, Bitcoin and blockchain infrastructure company Blockstream announced the completion of $125 million in convertible notes and secured loan financing to expand its institutional Bitcoin mining hosting services. The company will use the proceeds from the new capital to expand its mining facilities to meet the strong demand for large-scale hosting services.

It is reported that Blockstream's new round of financing did not mention the company's valuation. According to a previous report by Bloomberg, the company is seeking to raise funds at a valuation 70% lower than the previous round (below $1 billion). Previously, in August 2021, Blockstream completed a $210 million Series B financing at a valuation of $3.2 billion. (source link)