Bloomberg: Blockstream is undergoing a new round of financing, with its latest valuation potentially dropping nearly 70% to below $1 billion

ChainCatcher news, Bloomberg reported citing informed sources that Bitcoin and blockchain infrastructure company Blockstream is raising a new round of funding. In August 2021, the company completed a $210 million Series B funding round, with a valuation of $3.2 billion. However, the company's valuation may have dropped nearly 70% to below $1 billion.

Blockstream CEO Adam Back declined to comment on the size of the funding or valuation but stated that the funds would be used to expand the capacity for hosting crypto miners. (Source link)