Bitcoin infrastructure firm Blockstream has raised $210 million in a new funding round. Fulgur Ventures led this effort, which will mainly focus on developing Bitcoin’s Layer-2 technology.
A portion of the funds will also support mining infrastructure and Bitcoin purchases. However, Blockstream’s press release suggests that these are secondary goals.
The company, founded in 2014, has made waves with its two Layer-2 solutions, Liquid and Greenlight. Both are compatible with the Lightning Network. Liquid has $1.8 billion in assets, while Greenlight powers over 150,000 Lightning nodes.
This funding comes after another major round in September for Blockstream’s BMN2 security token. Attention has been placed on Bitcoin’s Layer-2 projects, and this new investment actually cements Blockstream’s commitment to the expansion of Bitcoin even further.
In general, Bitcoin Layer-2 solutions raised $94.6 million during the second quarter of 2024, an indication that there is now increased interest in this area.
