Bitcoin

Blockstream Announces Bitcoin Mining Colocation and Pool

Blockstream, a leading blockchain technology enterprise based in Canada, has unveiled Blockstream Mining, a mining colocation service, along with the mining pool. The company made an official announcement of their latest product launch through a blog post published on 8th August 2019.

As per the blog post, Blockstream Mining will provide mining equipment colocation service in the firm’s data centers. Blockstream’s hosting service supports the quick deployment of a range of Bitcoin Mining equipment while offering complete mining operations monitoring and control to their customers.

This colocation service will enable businesses to not only operate their mining equipment but also manage them remotely. From the safe shipment of the mining equipment and reliable installation to real-time control and analytics to on-site tech support, there is an experienced team to tackle all the requirements, states the blog.

At present, only the institutional and enterprise customers will be able to utilize the Blockstream Mining service. However, the company disclosed that operations support, along with more services, for individuals as well as small businesses, will be added soon.

Interestingly, the company’s mining facility already offers hosting services to notable clientele in the form of Reid Hoffman, the co-founder of LinkedIn, and Fidelity Center for Applied Technology. The blog also reveals that the company has established its latest facility in USA’s Georgia and will be hosting colocation services all around North America. The announcement also highlights that Blockstream now has an energy capacity of more than 300 megawatts with additional sites coming soon.

In addition to that, the company also has a self-mining operation, accounting for less than one percent of the world’s hash rate, that runs on hardware from leading manufacturers such as MicroBT, Ebang, and Bitfury.

Apart from the mining facility, the firm has come up with the first BetterHash protocol-based production mining pool in the world – Blockstream Pool. With BetterHash mining pool protocol, individual miners can control which BTC transactions to add in their freshly mined blocks, making the network of Bitcoin (BTC) more decentralized. The Pool has been running on the Testnet for more than a year. Initially, it will be available to the Blockstream Mining clients.

It’s worth considering that Blockstream had started its mining operations in the year 2017 as the firm worried that there was a decline in mining decentralization. The company believed that people involved in ASIC manufacturing, pool operations, as well as hosting, were developing into a centralized force and holding Bitcoin back from achieving its whole potential.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.
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