Blockstream's 2025 Expansion: $210M Raise Sets the Stage
Blockstream, a leader in Bitcoin-powered financial infrastructure, has announced its 2025 growth plans after a successful $210 million fundraising round led by Fulgur Ventures in October 2024. The company is accelerating development across infrastructure, software, mining, and institutional offerings. Co-Founder and CEO Dr. Adam Back stated: 'We are at a pivotal moment for Bitcoin’s growth. Spot ETFs have opened the floodgates, institutions are rushing in, and individual interest is accelerating. We will continue building the financial rails and infrastructure to secure Bitcoin’s long-term success.'
Mining Spin-Off and ASIC Division Separation
As part of the expansion, Blockstream Mining will operate as an independent entity under the same brand, having secured over $350 million in total funding through equity, debt, and Blockstream Mining Note (BMN2) investments. Former Mining President Chris Cook will lead as CEO, with Adam Back in an advisory role. Blockstream Satellite also falls under this new arm. Separately, Blockstream’s ASIC division is being spun out as a standalone company led by Assaf Gilboa, former EVP of Hardware. A second funding round is underway to advance ASIC R&D and foundry capabilities.
Institutional Push: Asset Management and Custody Investment
In February, Blockstream launched Blockstream Asset Management (BAM) under veteran hedge fund manager Sean Bill, creating investment products for pensions, endowments, and other institutional clients. In January, Blockstream Capital Partners completed a $75 million investment in Komainu, enhancing custody and off-exchange solutions by integrating Blockstream’s Liquid Network and AMP platform.
L2 Protocols, Self-Custody, and Global Expansion
Development continues on Bitcoin layer-2 protocols Liquid and Lightning Network. The company plans to launch a new self-custody hardware wallet called Jade Plus. New product announcements are expected at Bitcoin 2025 in Las Vegas this May. Blockstream is expanding globally with new offices in Tokyo and a dedicated research center in Lugano, reaffirming its long-term commitment to Bitcoin innovation.