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Blockstream announced that it has raised $125 million in convertible notes and secured loan funding to expand its institutional bitcoin mining services. The raise was led by Kingsway Capital along with other investors including Fulgur Ventures.

According to announcementBlockstream will use the capital raised to expand its bitcoin mining facilities “to meet strong demand for its institutional hosting services,” which they say remains high “due to the company’s strong track record and its substantial scale, coupled with an industry-wide shortage of available power capacity.

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