Blockstream has announced the divestiture of its mining and ASIC divisions

Bitcoin infrastructure company Blockstream announced in a press release on Wednesday that as part of its newly implemented expansion strategy, the company will spin off its mining and ASIC divisions, making them independent companies. Chris Cook, president of Blockstream's mining division, and Assaf Gilboa, executive vice president of the ASIC division, have both been promoted to become CEOs of their respective entities. "Going forward, we will continue to explore ways to have the greatest impact, focusing on building the financial track and infrastructure to help ensure the long-term success of Bitcoin," said Adam Back, CEO of Blockstream. The company also revealed that it will unveil "several new products" at its annual Bitcoin conference in Las Vegas in mid-May that will aim to "create a more streamlined and integrated user experience within Blockstream's technology stack".