North America Gets Its First Enterprise-Grade Bitcoin Mining Pool from Titan

By Bhushan Akolkar
Published December 3, 2020 Updated December 3, 2020
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North America Gets Its First Enterprise-Grade Bitcoin Mining Pool from Titan

By Bhushan Akolkar
Published December 3, 2020 Updated December 3, 2020

North America is all set to get its first enterprise-grade Bitcoin mining pool and thanks to Titan. As Bitcoin continues to gain new highs, enterprises are having a close watch on the opportunities in the Bitcoin mining market. titan is popular in North America as a leading developer of software and services that deliver scalable crypto mining solutions.

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Bitcoin mining has turned highly competitive over the last few years and is a huge $6 billion business every year. The continuously rising hash rate has made BTC mining even more computationally intensive. Miners worldwide compete on a massive scale to get a chance to unlock the next BTC block and add it to the blockchain.

As the computational requirements continue to escalate, miners worldwide have combined their resources to create mining pools. To launch its first enterprise-grade Bitcoin mining pool in North America, Titan has joined hands with CoinMint and CoreScientific.

CoinMint is one of the largest operators of cryptocurrency data centers while CoreScientific develops software for blockchain-based applications. Speaking about their partnership with Titan, Kevin Turner, CEO at Core Scientific said:

“Cryptocurrency mining has moved from hobby to major industry within a very short period. Today, it is a matter of global economic competitiveness — one where North America risks falling behind. We are proud to be among the first to use the Titan Pool, working to secure North America’s role in securing the Bitcoin network.”

North America Emerging As the Next Hub for Bitcoin Mining

Currently, Asia and Europe dominate a majority of the Bitcoin mining power. Moreover, China has a lion’s share of the global BTC mining activity. Titan said that its massive Bitcoin Mining Pool will help North America emerge as an alternative destination for Bitcoin mining.

The added benefits that Titan Pool will offer to the North American Bitcoin miners is greater efficiency, greater simplicity, and greater transparency. Titan Co-founder and CEO Ryan Condron said:

“Titan is uniquely positioned to deliver North America’s first and best institutional-class Bitcoin mining pool. Our work in delivering software for managing large cryptocurrency mines means that we deeply understand mining across its entire value chain.”

The latest crackdown by the Chinese authorities on Bitcoin miners gives North America the opportunity to attract crypto mining. However, they would still need to match the privileges of abundance and low-cost hydroelectric power available to Bitcoin miners in China.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Bhushan Akolkar
725 Articles
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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