Blockstream Buys Mining Machines of $25M from MicroBT
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Blockstream Buys Mining Machines of $25M from MicroBT

January 29, 2021      Vandana Malik

Blockstream, a Bitcoin technology firm, has recently announced that they have bought Bitcoin mining machines. As per the firm, these Bitcoin mining machines have been bought from MicroBT, for $25 million. The firm has bought these machines to expand its mining operations to a very great extent. 

MicroBT is the leading manufacturer of Bitcoin mining equipment based in Shenzhen. Blockstream has mentioned that these mining machines will be deployed across their mining facilities in Canada and the U.S. 

Blockstream Believes MicroBTs WhatsMiner as Best Mining Hardware

Blockstream had been testing mining hardware ever since the launch of its mining hosting service. The firm has mentioned that MicroBT’s WhatsMiner miners are the best mining hardware, available in the market. However, it has not been specified that when the firm will receive these miners.

Blockstream is excited to continue its relationship with MicroBT and is hoping for some great developments in the future. With this, the firm is hoping to offer a reliable foundation to its clients that contribute to the security of the network. Along with this, the firm has mentioned that equipment will be used for the top-secret mining service. Blockstream is hoping to launch this service anytime soon. 

Firm Will Continue to Grow Throughout the Year

Back in 2019, the firm launched Blockstream Pool and it was mentioned that they have been mining for several high-profile clients as well. Adam Back, CEO of the firm, has said that at the present time, their firm is having around 300 megawatts in mining capacity. He has also mentioned that the firm will “continue to grow aggressively throughout the year.” This is showing the commitment of the firm towards continuous development. The recent purchase of mining equipment from MicroBT is going to contribute its part to this development. 

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#Adam Back #Blockstream #MicroBT #MicroBTs WhatsMiner #Mining machines
Vandana Malik
Vandana Malik

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.