Blockstream undergoes major restructuring, divesting mining and ASIC divisions

Odaily News Bitcoin infrastructure company Blockstream announced in a press release on Wednesday that it will spin off its mining and ASIC divisions into separate companies as part of its newly implemented expansion strategy. Chris Cook, president of Blockstream’s mining division, and Assaf Gilboa, executive vice president of the ASIC division, have both been promoted to CEO of their respective entities.
“Looking ahead, we will continue to explore ways to have the greatest impact by focusing on building the financial rails and infrastructure to help ensure the long-term success of Bitcoin,” said Blockstream CEO Adam Back. The company also revealed that it will launch “several new products” at its annual Bitcoin Conference in Las Vegas in mid-May, which will be designed to “create a more streamlined and integrated user experience across Blockstream’s technology stack.”