Bitcoin infrastructure company Blockstream announced in a press release released on Wednesday that as part of its newly implemented expansion strategy, it will divest 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, were both promoted to the chief executive officers of their respective entities. Adam Back, CEO of Blockstream, said: "Looking forward, we will continue to explore ways to maximize the 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 that will aim to "create a more streamlined and integrated user experience in Blockstream's technology stack."