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Blockstream Spins out Mining and ASIC Divisions in Major Restructuring Effort

The bitcoin-focused technology firm closed a $210 million funding round led by Fulgur Ventures last October and is now implementing key expansion initiatives.

Bitcoin infrastructure firm Blockstream has announced that it will spin out its mining and ASIC divisions, establishing them as independent companies as part of its newly implemented expansion strategy, according to a press release published on Wednesday.

Blockstream was co-founded in 2014 by current CEO Adam Back, the British computer scientist behind the Hashcash algorithm referenced in section four of Satoshi Nakamoto’s Bitcoin whitepaper. Initially focused on developing sidechains, the firm has gradually diversified across multiple industries including software engineering, Bitcoin hardware, mining, and financial services.

Blockstream Spins out Mining and ASIC Divisions in Major Restructuring Effort

The bitcoin-focused technology firm closed a $210 million funding round led by Fulgur Ventures last October and is now implementing key expansion initiatives.

Bitcoin infrastructure firm Blockstream has announced that it will spin out its mining and ASIC divisions, establishing them as independent companies as part of its newly implemented expansion strategy, according to a press release published on Wednesday.

Blockstream was co-founded in 2014 by current CEO Adam Back, the British computer scientist behind the Hashcash algorithm referenced in section four of Satoshi Nakamoto’s Bitcoin whitepaper. Initially focused on developing sidechains, the firm has gradually diversified across multiple industries including software engineering, Bitcoin hardware, mining, and financial services.

https://news.bitcoin.com/blockstream-spins-out-mining-and-asic-divisions-in-major-restructuring-effort/