Bitlayer Raises $5M in Oversubscribed Token Sales; $4M Secured via CoinList

Overwhelming demand caused a complete sell-out within the limited window on CoinList, drawing in over 6,300 verified investors and exceeding subscription targets by 50%.

Bitlayer, a Bitcoin infrastructure project bringing BitVM from concept to reality, today announced it had raised a total of $5 million through three consecutive oversubscribed token sales.

This multi-platform token sale offering spanned CoinList, Echo, GoMining, and Holdstation, drawing tens of thousands of participants and exceeded targets amid surging institutional and retail demand.

The CoinList tranche notably secured $4M in BTR tokens with over $$6 million commitment. These were sold to 6,300+ participants from more than 100 countries, massively contributing to Bitlayer’s decentralization and marking a historic milestone: the first U.S.-accessible token offering from any Bitcoin project, a critical leap in Bitlayer’s institutional adoption strategy.

“Bitcoin adoption has surged in the past year through ETFs, banks, MicroStrategy, and even policy shifts by the U.S. government. As Bitcoin adoption grows, so does the need for a more robust onchain ecosystem,” said Raghav Gulati, CEO of CoinList. “Bitlayer’s oversubscribed sale on CoinList is a testament to their leadership in Bitcoin DeFi in the US and abroad.”

Bitlayer secured $190K in its Holdstation community token sale on August 8th, which got sold out within 28 seconds. This follows GoMining’s sold-out $$300K community round (concluded August 1st), which attracted 2,051 global participants. Meanwhile, Echo, a platform founded by crypto influencer “Cobie”, hosted a private sale raise of $420K.

“Our community was really excited for the Bitlayer sale. In just one week from opening registrations, we had the second Bitlayer sale: 75% of participants maxed out their allocations, and 53% bought the maximum amount in our First Come First Served round. The project has a lot of support and interest from the Bitcoin community, and we’re happy to be able to bring an innovative Bitcoin project to a global audience,” said David Lolaev, Head of GoMining Launchpad.

These multi-platform sales significantly complement Bitlayer’s $5M March 2024 seed round and $$20M October 2024 Series A. The project has thus far raised near $$30 million total across private and public rounds - underscoring strong institutional and community confidence in its Bitcoin DeFi infrastructure.

The capital will accelerate Bitlayer’s operational expansion, team growth, and ecosystem development, directly empowering developers, securing the BitVM Bridge, and advancing strategic partnerships.

“The strong market demand for Bitlayer’s token underscores the critical need for a trust-minimized BTC bridge and a future-proof Bitcoin rollup,” stated Charlie Hu, Co-Founder of Bitlayer. “This milestone significantly accelerates our mission. Following July’s BitVM Bridge Mainnet launch, we’ve now released key integrations with Sui, Arbitrum, Cardano, and Base, demonstrating our ability to execute the roadmap and deliver tangible ecosystem value.”

Bitlayer is a Bitcoin DeFi infrastructure project fostering an open, collaborative BTCFi ecosystem. At the heart of Bitlayer’s solution sits the BitVM Bridge, also known as the “3rd generation Bitcoin bridge”. Unlike traditional multisignature bridges, BitVM Bridge uses a cryptographic challenge-response system, ensuring just one honest participant is needed to secure the network.

By leveraging Bitcoin’s unparalleled security, Bitlayer’s rollup not only achieves significantly higher throughput and reduced transaction costs but also introduces Turing-complete programmability, thereby unlocking vast new possibilities for the Bitcoin ecosystem.

Both BitVM Bridge and Bitlayer Network continue to make significant strides. As Charlie noted, the BitVM Bridge has secured strategic partnerships with major chains and protocols, while YBTC is expanding into multichain networks. Meanwhile, Bitlayer Network’s V1 mainnet, launched in March 2024, has processed over 65 million transactions and reached an $850 million peak TVL. Development of V2 is now advancing rapidly, targeting launch later this year.

Following the private token sale, the next milestones include the Token Generation Event (TGE) and potential exchange listings. Details regarding early community airdrops and rewards programs will also be shared soon.

About Bitlayer

Bitlayer is pioneering the first BitVM implementation. By merging unparalleled security with a lightning-fast smart contract engine, Bitlayer unlocks the full potential of Bitcoin DeFi.

Bitlayer is committed to an open and collaborative Bitcoin DeFi ecosystem, working with partners to advance BTC Bridge, Bitcoin Layer 2 and BitVM stack, driving the future of secure, scalable, and programmable Bitcoin finance.

About CoinList

CoinList is a leading crypto platform whose mission is to empower crypto builders at any stage in their journey and connect them with high-quality early adopters. Since 2017, CoinList has become the global leader in community growth, helping blue chip projects like Filecoin, Solana, Ondo, Near, Flow, and others launch their protocols and connect with hundreds of thousands of new token holders through more than $1.2 billion in token sales. With a global community of over 11M users, CoinList supports the full crypto lifecycle, from token sales through token distribution, trading, and staking.

About Holdstation

Holdstation, a Web3 AI wallet empowering over 3 million verified users and serving 600,000+ monthly activities, with more than $50 billion in trading volume. Built natively on Worldchain and Berachain, our product suite includes a reputable Launchpad, Margin Trading, DEX Aggregator, delivering an all-in-one DeFi experience.

About GoMining

GoMining is a Bitcoin-centered ecosystem anchored by 9.3 million+ TH/s of computing power across data centers in the U.S., Africa, and Central Asia. The platform empowers more than 3.5 million users worldwide. GoMining is designed to make Bitcoin and mining more accessible to users and entities of any level, from retail to startups and institutions.

This ecosystem includes upgradeable digital NFT miners and the Miner Wars GameFi for retail users, a launchpad for BTCFi focused startups, and GoMining Academy, a comprehensive educational platform designed to equip users with practical knowledge.

About Echo

Echo lets lead investors create private groups to share their investments with. Eligible members can join these groups and then choose, on a deal-by-deal basis, to follow the lead and invest on the same terms.