Blockstream, a major blockchain solutions provider, revealed the opening of two big cryptocurrency mining facilities in Canada and the USA. Blockstream Announces Blockstream Mining and Pool.
The firm announced a new mining wing, Blockstream Mining, and a BetterHash-based mining pool, Blockstream Pool.
With its latest installation in Georgia, Blockstream Mining will host colocation facilities across North America. The announcement has indicated that customers will be made accessible to 300 megawatts, or 300,000 kilowatt-hours of energy.
The first clients of Blockstream were the Fidelity Application Technology Center, and LinkedIn co-founder Reid Hoffman.
Blockstream is busy developing its Liquid Network project. Aside from mining, it will bring speed and cost advantages to the bitcoin-sidechain ecosystem.
As of now, the firm said:
“Blockstream Mining is tailored to enterprise and institutional customers, but soon we’ll be expanding our options to support small businesses and individuals, along with additional services.”
Blockstream claims it presently makes up one percent of the worldwide bitcoin hash rate for its self-mining attempts.
Blockstream CSO Samson Mow said:
“We began self-mining back in 2017 after being motivated by widespread concern that mining decentralization was declining. At the time it appeared that parties involved in ASIC manufacture, hosting, and pool operations were becoming a centralizing force and holding back Bitcoin from reaching its full potential. We figured we could use our Bitcoin expertise to improve the situation.”
For over a year, the Blockstream Pool has been running on a testnet and is initially available to customers of Blockstream Mining.
BetterHash is an enhanced mining pool protocol that enables individual miners to control which bitcoin transactions are included in their newly mined blocks.