Blockstream Mining Announces Strategic Focus on Proprietary Mining and Vertical Integration
Backed by $350 Million in Financing, Company Scales Infrastructure with Over 120,000 Miners Acquired Since Spinout
MONTREAL, April 30, 2025 /CNW/ -- Blockstream Mining, now operating as an independent entity, today announced its sharpened strategic focus on proprietary mining and full vertical integration. The company, which has been a foundational player in the global Bitcoin mining ecosystem since its inception, will concentrate on expanding its self-mining footprint while building the energy infrastructure required to support long-term scalability and resilience.
Following its spinout from Blockstream earlier this year, Blockstream Mining has secured over $350 million in financing, including equity, debt, and tokenized asset sales. The capital raise has enabled rapid execution on key infrastructure initiatives, including the acquisition of over 120,000 miners to fuel the company's next phase of growth.
"Bitcoin mining is no longer just about machines and megawatts—it's about owning and optimizing the entire value chain," said Chris Cook, CEO of Blockstream Mining. "As the industry matures, those who control their own energy and infrastructure will be best positioned to thrive. We're doubling down on our mission to be one of the most efficient, vertically integrated mining operations in the world."
Blockstream Mining is deploying capital toward the development of new energy generation assets—particularly renewable and hybrid power systems—to reduce dependence on third-party providers and shield operations from energy market volatility. This approach supports cost stability, improves environmental performance, and ensures maximum uptime across its expanding fleet.
The vertical integration roadmap includes:
Expansion of Proprietary Mining: Rapid growth in self-mining capacity across North America, anchored by cost-effective, high-uptime sites.
Infrastructure Ownership: Continued investment in power infrastructure and on-site energy generation to maintain control over critical operational inputs.
Operational Excellence: Leveraging Blockstream's engineering legacy and technical depth to drive efficiency across deployment, cooling, and energy management.
Chris Cook, who launched Blockstream Mining and has led the business since its inception, serves as CEO of the newly independent company. Dr. Adam Back, Co-Founder and CEO of Blockstream, will continue to play a valued role in the company's strategic direction as Chair of the Advisory Board. In this capacity, Dr. Back will provide high-level guidance on technology, infrastructure development, and capital strategy, helping to ensure that Blockstream Mining remains at the forefront of Bitcoin mining innovation.
As part of the spinout, the Blockstream Satellite program — which broadcasts Bitcoin's blockchain globally via satellite to enhance network resilience and accessibility — will also transition under the new entity's stewardship. Blockstream Satellite is already an integral part of Blockstream Mining's operations, providing connectivity for mining sites in remote locations where traditional internet infrastructure is unreliable or unavailable, further strengthening the company's commitment to security, uptime, and decentralization.
Blockstream Mining has always been about delivering secure, scalable Bitcoin infrastructure," said Dr. Adam Back. "With this transition, Chris and the team are exceptionally well-placed to carry the vision forward—scaling with independence, deep technical expertise, and a steadfast commitment to Bitcoin's long-term success. I look forward to collaborating in this next chapter to build something truly enduring."
"We're proud of our roots and even more excited about what comes next," added Cook. "With strong capital backing, clear focus, and full control over our operations, we're building the backbone of Bitcoin's future—one megawatt at a time."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Cision Canada
an hour ago
- Cision Canada
THE BANFF WORLD MEDIA FESTIVAL AND PARAMOUNT+ IN CANADA ANNOUNCE 'SEASON TWO' RENEWAL OF BANFF SPARK: PRODUCERS EDITION
The Call for Applications will be announced in August, 2025 BANFF, AB and TORONTO, June 8, 2025 /CNW/ -- The Banff World Media Festival (BANFF) is pleased to announce that Paramount+ in Canada has renewed the BANFF SPARK Accelerator for Women in the Business of Media: Producers Edition for a second year. The program renewal was announced today during the opening ceremonies of the 46th edition of the Banff World Media Festival, taking place at the Fairmont Banff Springs Hotel from June 8-11, 2025. This national program is open to Canadian women, (including non-binary individuals), from across the country and is aimed at working toward gender parity in the media industry by supporting growth, investment, scaling, and sustainability of women-owned media companies. Twenty-five (25) women who own their own production outfits will participate in: a series of customized, virtual sessions covering high-level aspects of business strategy and planning, finance, and marketing best practices; one-on-one 'concierged' meetings with individuals, and curated sessions during the Banff World Media Festival. They will also benefit from a significant marketing and promotional campaign to help build their business profile in the industry. Participants receive a Banff World Media Festival pass, and a travel stipend to offset costs of attending the Festival. "Paramount+ in Canada has been an incredible and committed partner to advancing gender parity in our industry. This first-of-its-kind program has already generated positive career growth for more than 225 women participants by helping them form strategic partnerships, and hone their business skills. Despite the achievements and progress made, our industry still has work to do in breaking down barriers for women, and especially racialized women, to help them gain a foothold in the global marketplace," says Jenn Kuzmyk, Executive Director, Banff World Media Festival. "We are honoured to partner with Banff World Media Festival for a second consecutive year to continue the BANFF Spark Program: Producers Edition," said Vanessa Case, Vice President Content, Paramount+, Canada. "Investing in Canada's up and coming producers isn't just the right thing to do—it's a strategic imperative. Inclusive leadership drives innovation, improves decision-making, and ultimately reflects the audiences we serve." BANFF Spark provides business guidance, and a gateway to the Canadian and global film and television industry through the renowned Banff World Media Festival's (BANFF) conference and marketplace. Programmed through an intersectional lens, the initiative has a core mission to empower women of color, Indigenous women, women with disabilities, 2SLGBTQI+ women, and non-binary individuals to advance both domestically, and across the global media industry. This initiative is the eighth partnership Paramount+ in Canada has announced that reinforces its commitment to inclusivity. In addition to supporting the 2025 and now 2026, the streamer has announced partnerships with the 2024 Reelworld Summit, the, inkcanada to Connect Emerging Writers with Industry Allies; a collaboration with the; a collaboration with the Black Screen Office for the Black Creators Festival Initiative; a joint venture with BIPOC TV & Film and the National Screen Institute Partner for the new ELEVATE program; and partnerships with both The Shine Network Institute (TSNI) for the Indigenous Producers Budgeting Intensive and with the Pacific Screenwriting Program and the Indigenous Screen Office to Create the Indigenous Screenwriters Lab in 2024. About the Banff World Media Festival Now in its 46th year, the Banff World Media Festival (BANFF) and the Rockie Awards host one of the most important global conferences and content development marketplaces - gathering top creators, producers, showrunners, talent, networks, studios, streamers, press and media companies. BANFF's intimate, retreat-style event serves as a leading destination for development, co-production and co-venture partners and offers an unparalleled opportunity for international decision-makers to connect, map the future of the industry, and execute new business deals. Summit Series keynotes, Master Classes and renowned Showrunner Superpanels feature the industry's most inspiring creative and business leaders and give global profile to the most talked-about shows. The Rockie Awards recognize the best content and most influential entertainment industry executives, talent and creators in the world. BANFF continues to deliver important fellowships and initiatives including: the BANFF Spark Accelerator for Women in the Business of Media: Producers Edition, the Netflix-BANFF Diversity of Voices Initiative, and the Indigenous Screen Summit and Pitch Forum. Together these programs have provided more than 1000 opportunities for under-represented professionals in the Canadian media industry. For more information on the Banff World Media Festival, click here. @banffmedia #BANFFMediaFestival #ROCKIEAWARDS About Paramount+ Paramount+ is a global digital subscription video streaming service from Paramount that features a mountain of premium entertainment for audiences of all ages. Internationally, the streaming service features an expansive library of original series, hit shows, and popular movies across every genre from world-renowned brands and production studios, including SHOWTIME®, CBS, Comedy Central, MTV, Nickelodeon, Paramount Pictures, and the Smithsonian Channel™, in addition to a robust offering of premier local content. The service currently lives in the U.S., Canada, the U.K., Australia, Latin America, the Caribbean, Austria, France, Germany, Ireland, Italy, Switzerland and Japan.
Globe and Mail
6 hours ago
- Globe and Mail
GameStop's Earnings Could Surprise the Market
GameStop Corp. (GME) will release Q1 earnings after the market closes on Tuesday, June 10. Its recent purchase of Bitcoin, which may continue, could push earnings per share (EPS) higher than analysts' expectations. GME stock is cheap here. GME closed at $29.58 on Friday, June 6. I previously wrote about GME's value in a June 1 article, ' GameStop's Bitcoin Purchase and Potential Debt Conversion Increases GME's Value.' I showed in that article how GME could be worth almost $40.00 per share with a Sum-of-the-Parts (SOTP) valuation method. However, if earnings from its Bitcoin purchases are included, we can also value the stock on a P/E basis. Bitcoin Gains GameStop announced on May 28 that it had purchased 4,710 Bitcoin. There was no date given when these were purchased. So, at today's price of $106,000 from Coinbase, these digital assets are worth almost $500 million: 4,710 BTC x $106,000 = $499,260 On March 25, GameStop announced that its board had authorized the company to add Bitcoin as a treasury reserve asset. During Q1, BTC ranged from $93,400 to $82,551. But from March 25 to March 31, BTC traded in a range of $87,500 to $82,551, or about $85,000. So, let's assume GameStop purchased less than half of their 4,710 BTC assets during that period, or 2,000 Bitcoin. That means they may have spent on average $170 million: 2,000 BTC x $87,000 = $170 million So, GameStop's unrealized gain on these digital assets is now $42 million: 2,000 BTC x ($106,000 - $85,000) = 2,000 x $21,000 = $42 million If the company bought more of these assets in Q2 with an average all-in cost of say $90,000, its average unrealized gains are: $106,000 - $90,000 = $16,000 x 4,710 = $75.3 million Bitcoin Gains/Losses Now Reported in Income Based on a FASB rule (ASU 2023-08) that went into effect starting in 2025 (see Deloitte's ' FASB Issues Final Standard on Crypto Assets '), companies now report unrealized gains and losses in income during each reporting period. As a result, let's estimate how this might affect GameStop's Q1 earnings per share. For example, if its average cost was $85,000 and the ending price was $82,551, it would have an unrealized loss in Q1: 2,000 BTC x ($85,000 - $82,551) = 2,000 x -$2,449 = -$4.898 million Based on 447.1 million shares outstanding, this is a negligible effect: -$4.898 million / 447.1 m = -0.01 earnings per share But for Q2, the effect is larger. So far, the price of BTC is up by $23,449 (i.e., $106,000-$82,551), so based on an estimated average cost of $93,000 in Q2, the gain is much higher: $13,000 (i.e., $106,000 - $93,000) x 2,710 = $35.2 million I only used 2,710, since I assumed that the company bought just 2,000 BTC during Q1, and the remainder of 2,710 during Q2. If it bought more in Q2, the effect will be higher on its earnings per share. Moreover, the unrealized gain of the original 2,000 BTC will also increase Q2 EPS: 2,000 x ($106,000-$85,000 = $21,000) = $42 million As a result, GameStop could report a total of $75.2 million in unrealized gains in earnings per share during Q2. That will have a much higher effect on earnings per share: $75.2m / 447.1 million shares = 0.1682 = 17 cents per share That means its EPS will be 17 cents higher than expected. This could be either in Q1 or Q2 (or a mixture of both). Target Price Analysts now project only 4 cents per share for Q1. So, this could be a huge surprise for the market. Moreover, analysts are expecting just $0.46 EPS for 2026. If we add 17 cents to this, its annual EPS will be 63 cents. And, assuming that BTC continues to make an average of 10 cents per quarter (assuming further Bitcoin purchases and BTC keeps rising), its annual EPS could hit at least $1.00 per share over the next 12 months (NTM). As a result, its forward NTM P/E is low: $29.58 / $1.00 forward EPS = 29.6x multiple Analysts have not been properly following GME stock. Once they incorporate GameStop's higher EPS from Bitcoin purchases, investors may expect to see GME rise from here.
Globe and Mail
14 hours ago
- Globe and Mail
1 Top Cryptocurrency to Buy Before It Soars 6,220%, According to Cathie Wood
Ether (CRYPTO: ETH), the native cryptocurrency of the Ethereum blockchain, lost more than 30% of its value over the past 12 months. Its first spot-price ETFs were approved last July, but those funds didn't attract as much attention as Bitcoin 's (CRYPTO: BTC) earlier ETFs. Instead, Ether seemed to be held back by concerns about competition from newer and faster blockchains, its slowing network activity, and the Trump Administration's unpredictable tariffs. Nevertheless, some investors remain fiercely bullish on Ether's future. One of those bulls is ARK Invest's Cathie Wood, who believes Ether's price could reach $166,000 by 2032. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » That would represent a gain of nearly 6,220% and boost its market cap to more than $20 trillion. Bitcoin, which Wood is also bullish on, currently has a market cap of $2 trillion. Could Ether skyrocket to those levels, or should investors maintain more realistic expectations? The differences between Ether and Bitcoin Ethereum originally ran on a proof-of-work (PoW) mechanism like Bitcoin. This meant it needed to be mined by GPUs or other chips. But in 2022, Ethereum transitioned to the proof-of-stake (PoS) mechanism, which was roughly 99% more power efficient than the PoW mechanism. So instead of being mined, Ether is now staked (or locked up for rewards) on the Ethereum blockchain. Ethereum's transformation into a PoS blockchain also enabled it to support smart contracts, which are used to develop decentralized apps (dApps), non-fungible tokens (NFTs), and other crypto assets. Bitcoin's PoW blockchain doesn't support smart contracts. Therefore, Ether's value is often linked to Ethereum's popularity as a development platform. Bitcoin is still valued by its scarcity and limited supply -- since 19.6 million of its maximum supply of 21 million tokens have already been mined. Ether doesn't have a fixed maximum supply, but its overall supply declines when its network activity rises. That's because a portion of every transaction fee in Ether is burned. But when Ethereum's network activity slows down, its supply rises as more Ether tokens are created than burned. So while Bitcoin is always deflationary, Ether can be both inflationary and deflationary. But to remain a popular platform for developers and investors, it needs to keep providing fast transaction times with low fees. That's becoming increasingly difficult as faster and cheaper PoS blockchains like Solana and Cardano challenge Ethereum. Solana processes transactions much faster than Ethereum, while Cardano usually offers lower fees. Ethereum's catalysts and challenges Ether's next big upgrade -- The Verge -- aims to upgrade its security features and lower its hardware requirements so it can run on smaller devices like smartphones, wearables, and Internet of Things (IoT) devices. It also aims to reduce its off-chain Layer 2 (L2) fees with a series of upgrades for its network to clear more space for fresh data. Those upgrades could help it indirectly reduce its congestion issues by absorbing some of its core Layer 1 (L1) network traffic. Assuming those upgrades bring in more developers and investors, its network activity will increase, reduce its supply, and stabilize Ether's price. Another potential catalyst would be the approval of new spot-price ETFs with staking features. The first batch of Ether's spot-price ETFs only held Ether in cold storage and didn't pass on any of its interest-like staking rewards. The next batch could pass on those rewards (about 3% to 5% annually) and make them more appealing. However, Ether could still be held back by competition from other PoS blockchains, a lack of approvals for new ETFs with staking rewards, or the messy macro environment that is curbing the market's appetite for cryptocurrencies and other speculative investments. Should you believe Cathie Wood's bullish outlook? Wood believes Ether's value will rise as Ethereum becomes a foundational layer of a new digital financial ecosystem that challenges traditional banks with decentralized finance (DeFi) apps, NFTs, and tokenized versions of real-world assets. She also expects Ether's staking yield to become more appealing than the yields of U.S. Treasuries as interest rates decline, and for the approvals of new staking ETFs to bring in even more institutional investors. Just as with Bitcoin, Wood expects the growing institutional adoption of Ether over the next few years to drive its price a lot higher. That thesis sounds reasonable, but claiming it could reach a $20 trillion market cap within the next seven years -- compared to gold's current market cap of $3.4 trillion -- seems too bullish. So while it might be smart to accumulate Ether as it rolls out new networking upgrades, attracts more developers, burns more tokens, and gains more attention with new ETFs, we should take Cathie Wood's forecasts with a grain of salt. It will probably stabilize and rise higher, but its long-term value isn't that easy to gauge. Should you invest $1,000 in Ethereum right now? Before you buy stock in Ethereum, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Ethereum wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $669,517!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $868,615!* Now, it's worth noting Stock Advisor 's total average return is792% — a market-crushing outperformance compared to171%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 2, 2025
