Blockstream Announces The Launch Of Bitcoin Mining Facility And Pool Services

Crypto Mining

Blockstream Announces The Launch Of Bitcoin Mining Facility And Pool Services

The Popular Canadian Bitcoin technologies company, Blockstream recently made an announcement that it is launching a bitcoin mining facility and mining pool, the company revealed this in a blog post on Thursday.

According to Blockstream, the mining data facility will host its clients’ mining processes in addition to Blockstream’s own mining operations. The mining facility counts Fidelity Center for Applied Technology and LinkedIn co-founder Reid Hoffman among its initial clients.

Blockstream Aims To Solve Public Mining Difficulties

The news comes in a bid of the company to solve some of the major problems faced by cryptocurrency miners and potential miners in the industry. As the firm believes this would improve adoption of cryptocurrencies, it aims to help customers provide the alternative service in the stead of building their own complex and expensive mining facilities, including specialized power infrastructure and cooling systems. Also, to conquer the dilemma of having to select a professional hosting provider where they face a range of issues, including inexperienced teams, limited control over miners, and unpredictable pricing

Mining Since 2017

The firm was initially instigated to begin mining services by a rising concern that decentralization of mining was on the decline began in mining in 2017. At the present, at full force, Blockstream’s mining facility would “amount to roughly 6 exahashes of Bitcoin mining power.” This amount of hash power would equal to about 7% of the Bitcoin network’s daily hashrate this week.

According to the official announcement, Blockstream Mining provides mining equipment colocation in their purpose-built data centers designed to meet the needs of institutional and enterprise customers. Their developed hosting services support the rapid deployment of almost any type of Bitcoin mining equipment and provide customers with complete control over their mining operations.

Summary
Blockstream Announces The Launch Of Bitcoin Mining Facility And Pool Services
Article Name
Blockstream Announces The Launch Of Bitcoin Mining Facility And Pool Services
Description
Blockstream begins public mining pool services
Author
Publisher Name
Coingape
Publisher Logo
Coingape is committed to following the highest standards of journalism, and therefore, it abides by a strict editorial policy. While CoinGape takes all the measures to ensure that the facts presented in its news articles are accurate.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Author: Dare Shonubi

Staff writer at Coingape. Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.
You can follow me on Twitter at @ShonubiDare or reach out to me at dare[at]coingape.com

Post your comment...
Dare Shonubi 247 Articles

Staff writer at Coingape. Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.
You can follow me on Twitter at @ShonubiDare or reach out to me at dare[at]coingape.com

Follow Dare @