The following is from a recent issue of Deep Dive, Bitcoin Magazine’s premium market newsletter. To be among the first to get this insight and other Bitcoin market analysis delivered to your inbox, sign up now.
As reported yesterday by Bitcoin magazine’s Nik Hoffman, bitcoin infrastructure and services company Blockstream raised $ 210 million in funding during its most recent seed round and valued the company at $ 3.2 billion.
“Some of the money raised will be used to further develop Blockstream’s Bitcoin mining products and services, such as Blockstream Energy. The new mining infrastructure they are building will be used in many partnerships, such as their collaboration with Square where they are developing a solar powered mining facility.
The rest of the money will be used to build a financial infrastructure with Bitcoin-focused financial products and Liquid, a sidechain-based settlement network that enables faster and more confidential Bitcoin transactions. ”- Bitcoin Magazine
Blockstream, headquartered in Victoria, Canada, is sure to play a huge role in North American ASIC manufacturing and manufacturing in the years to come, which is desperately needed as most of the semiconductor chip and ASIC manufacturing is currently overseas.
In a world where supply chains have never been so lagging, manufacturing mining platforms domestically for the United States should be viewed as a national security issue. Although Blockstream is based in Canada itself, recently announced partnerships with companies like Square to develop solar-powered mining facilities are vital in the global Bitcoin arms race.
Bitcoin’s monetization process only happens once. If you look at the history of the network, the BTC that can be purchased per hash has only decreased exponentially over time.
