Blockstream buys $25 million worth of bitcoin mining hardware from MicroBT
January 27, 2021, 5:43PM EST
1 min read
Blockstream announced Wednesday that it bought $25 million worth of WhatsMiner Bitcoin mining equipment from MicroBT, a Shenzhen-based hardware manufacturer.
“We’ve been extensively testing mining hardware since the launch of our mining hosting service in 2017, and right now, we’re confident saying there’s no better mining hardware on the market than MicroBT’s WhatsMiner miners,” Blockstream said in a statement.
Blockstream offers colocation services for clients, essentially outsourcing mining equipment and upkeep for their clients, allowing them to mine Bitcoin. Blockstream maintains 300-megawatt operations in North America and says they plan to grow “aggressively” throughout 2021, according to the statement. The company launched a mining pool in 2019.
The development comes amid broadening institutional interest in the mining space, as well as a high-demand market for mining hardware, as previously reported.
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The Block Research was commissioned by Algorand to create Layer-1 Platforms: A Framework for comparison, which provides a “look under the hood” at seven platforms: Algorand, Avalanche, Binance Smart Chain, Cosmos, Ethereum/Ethereum 2.0, Polkadot, and Solana.
We assess their technical design, related ecosystem data, and qualitative factors such as key ecosystem members to get an understanding of how they differ. Having done this analysis, we draw some insights for what the future of the broader smart contract landscape could look like for years to come.
Bloomberg reported Friday that a broad U.S. government investigation into the operator of crypto exchange Binance has widened to include "whether Binance or its staff profited by taking advantage of its customers."
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