Blockstream announced the divestment of its Mining and ASIC departments.

CoinNetwork · 2025-05-01T20:23:50+00:00

The Bitcoin infrastructure company Blockstream announced the spin-off of its mining and ASIC divisions as part of its expansion strategy, turning them into independent companies. The company has promoted Chris Cook and Assaf Gilboa as the CEOs of the new entities. The Blockstream CEO stated that they will continue to focus on financial rails and infrastructure development, launching new products to enhance user experience.

CoinNetwork

2025-05-01 20:23:50

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Bitcoin infrastructure company Blockstream announced in a press release on Wednesday that it will spin off its mining and ASIC divisions as part of its newly implemented expansion strategy, making them independent companies. Chris Cook, President of Blockstream’s Mining Division, and Assaf Gilboa, Executive Vice President of ASIC, have both been promoted to serve as CEOs of their respective entities. Adam Back, CEO of Blockstream, said: "As we look ahead, we will continue to explore ways to make the most impact, focusing on building the financial track and infrastructure to help ensure Bitcoin’s long-term success. The company also revealed that it will launch “several new products” at its annual Bitcoin conference in Las Vegas in mid-May, which will aim to “create a more streamlined and integrated user experience within Blockstream’s technology stack.”

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