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Bitcoin Lightning company River raises $35M amid ‘new wave of institutional adoption’

Published 05/16/2023, 09:50 AM
Updated 05/16/2023, 10:40 PM
© Reuters.

The tide might have gone out on Bitcoin ordinals, but there’s a strong undercurrent of investments in Bitcoin-only companies. River, a United States-based Bitcoin (BTC) technology and financial services company, is the latest to make a splash.

River announced a $35 million Series B equity funding round despite the bear market. Kingsway Capital led the round, with notable contributions from PayPal (NASDAQ:PYPL) co-founder Peter Thiel, Cygni, Goldcrest and Valor Equity Partners.

Top Bitcoin Lightning nodes by capacity. Source: River.com
A snapshot of the River Lightning node's capacity and connected channels. Source: Mempool.space

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