Canada-based Bitcoin (BTC) infrastructure business firm Blockstream, co-founded by cryptographer and cypherpunk Adam Back, has hitting unicorn status with its latest valuation at $iii.2 billion.

The company, which focuses on diverse Bitcoin-related areas — including operating as a mining service provider and developing renewables-based infrastructure intended to "green" the veteran cryptocurrency — has raised $210 million in its latest financing round, according to Canadian newspaper The Globe and Post.

Blockstream's new backers, which join existing investors such as Twitter CEO Jack Dorsey, are the United Kingdom-based private disinterestedness firm Baillie Gifford and Hong Kong-based iFinex, the operator of crypto exchange Bitfinex.

In a statement about the grounds for Blockstream's $three.2-billion valuation and the fresh capital investment, Baillie Gifford wrote that it has "enormous respect for Blockstream'south founders and management team" and believes that "its settlement network for Bitcoin-based assets and securities has the potential to transform the design and performance of capital markets."

Blockstream principal strategy officer Samson Mow has reportedly said that the investment will support the company'southward further growth and aid it to expand its mining operations. The company has recently acquired ASIC maker Spondoolies and, according to Mow, plans to develop its own ASIC miner to apply for its own operations and to sell on the retail marketplace "sometime in 2022."

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Mow also disclosed that Blockstream aims to raise more capital in the coming months to aggrandize its various initiatives. These accept to date included the Blockstream Satellite network, which broadcasts the Bitcoin blockchain worldwide 24/vii and the launch of a service called Blockstream Energy, which allows free energy producers to sell surplus electricity to proof-of-work miners.

In March of this twelvemonth, Blockstream announced the launch of a security token backed past the company's mining operations, intended to serve as a more than flexible alternative to investing in Bitcoin mining stocks or physical mining infrastructure.