{"id":543116,"date":"2023-01-25T00:00:00","date_gmt":"2023-01-24T21:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/blockstream-raises-125m-to-finance-expanded-bitcoin-mining-operations\/"},"modified":"2023-01-25T00:00:00","modified_gmt":"2023-01-24T21:00:00","slug":"blockstream-raises-125m-to-finance-expanded-bitcoin-mining-operations","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/blockstream-raises-125m-to-finance-expanded-bitcoin-mining-operations\/","title":{"rendered":"# Blockstream raises $125M to finance expanded Bitcoin mining operations"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2a88f65124f\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2a88f65124f\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/blockstream-raises-125m-to-finance-expanded-bitcoin-mining-operations\/#%E2%80%9D_Blockstream_raises_125M_to_finance_expanded_Bitcoin_mining_operations_%E2%80%9C\" >&#8221; Blockstream raises $125M to finance expanded Bitcoin mining operations  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Blockstream_raises_125M_to_finance_expanded_Bitcoin_mining_operations_%E2%80%9C\"><\/span>&#8221; Blockstream raises $125M to finance expanded Bitcoin mining operations  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvZDdhMDBmNGQtY2QyZi00OTNkLTkzYjktODExNDdhMjZmODhjLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a4050f8>Digital asset infrastructure company Blockstream has raised $125 million to finance its Bitcoin (BTC) mining colocation services, underscoring heightened demand for its institutional hosting services amid the bear market.\u00a0<\/p>\n<p>The $125 million raise was financed by convertible note and a secured loan, Blockstream <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.prweb.com\/releases\/2023\/1\/prweb19127332.htm\">announced<\/a> on Jan. 24. Venture capital firm Kingsway Capital led the convertible note raise, with additional participation from Fulgur Ventures. Cohen &amp; Cohen Capital Markets, part of J.V.B. Financial Group, advised Blockstream on the deal. <\/p>\n<p><iframe loading=\"lazy\" title=\"How hard has this bear market been for Bitcoin mining?\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/ext3e3R2nzg?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>The funding will enable Blockstream to expand mining capacity for institutional hosting customers \u2014 a segment the company said was \u201cresilient\u201d in the face of Bitcoin price volatility compared to so-called prop miners. This latter segment is \u201cmore directly exposed to Bitcoin price volatility and compressed margins,\u201d Blockstream said.<\/p>\n<p>\u201cWe remain focused on reducing risk for institutional bitcoin miners and enabling enterprise users to build high-value use cases,\u201d said Erik Svenson, Blockstream\u2019s president and chief financial officer. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>BlockFi to sell $160M in Bitcoin miner-backed loans: Report<\/em><\/strong><\/p>\n<p>A protracted bear market in crypto, punctuated by several high-profile bankruptcies that culminated in the FTX collapse, placed significant pressure on Bitcoin miners. In December, Bitcoin mining giant Core Scientific filed for 11 bankruptcy due to plunging revenues. <\/p>\n<p>Mining operation Greenridge avoided bankruptcy in December by receiving a $74 million lifeline from New York Digital Investment Group. <\/p>\n<p>As reported by Cointelegraph, Bitcoin miners\u2019 worst days may have passed as hashrate stabilized and profit margins gradually improved toward the end of 2022. However, the industry remains under pressure, especially for small- and mid-sized miners with breakeven prices above $25,000 BTC. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/blockstream-raises-125m-to-finance-expanded-bitcoin-mining-operations\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Blockstream raises $125M to finance expanded Bitcoin mining operations &#8220; Digital asset infrastructure company Blockstream has raised $125 million to finance its Bitcoin (BTC) mining colocation services, underscoring heightened demand for its institutional hosting services amid the bear market.\u00a0 The $125 million raise was financed by convertible note and a secured loan, Blockstream announced&#8230;<\/p>\n","protected":false},"author":1,"featured_media":543117,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/d7a00f4d-cd2f-493d-93b9-81147a26f88c.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74989,74937,75719,75042,117],"class_list":["post-543116","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-mining","tag-bitcoin-price","tag-funding","tag-mining","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/543116","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=543116"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/543116\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/543117"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=543116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=543116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=543116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}