Blockstream Acquires A Bitcoin Mining Hardware Worth $25 Million From MicroBT

In a bid to boost the quality of their services in North America, Blockstream, a blockchain firm, deployed a new bitcoin miner worth $25 Million. The purchase was made from MicroBT following an announcement made on the 27th of January. MicroBT is known as one of the world’s largest producers of mining hardware.

Blockstream aims to use the newly acquired mining hardware in its mining facilities across Canada and the United States for diverse purposes. One of the purposes is the enterprise-level hosting services that began operation in 2017. As claimed by the company, the clients of these services include Reid Hoffman, the founder of LinkedIn and the Fidelity Center for Applied Technology (FCAT).

New level of Growth in Blockstream

Samson Mow, the CSO of Blockstream and Adam Black, the CEO made a statement that was captured in a tweet. They said the purchase is the beginning of aggressive growth for the firm and also the miner purchase has further cemented the firm’s position as one with the largest BTC mining operations in North America and around, having over 300 megawatts capacity readily available and a fast-increasing demand from various institutions that are looking to invest in BTC rush. They further reiterated their plan to grow more aggressively in the coming years.

The firm tested the M30S series Miner out of China, and the new purchase became the culmination of the trial. Also, through another tweet by Samson Mow, the CSO of Blockstream, He hinted at a collaboration with Whatsminer MBT for a mind-blowing project.

The demand for mining hardware growing

The WhatMiner Series by MicroBT is one of the famous mining hardware lines used across the world. The demand is so high that even the manufacturers often cannot supply enough to satisfy the demands. More frequently, the product is out of stock. The M30S series miner is one of the top miners from the MicroBT. With 11TH/s hash rates, it became one of the miners with the best hash rates.

Various companies and even countries have begun to invest in BTC mining operations, including the Pakistani province having a state-run mining process. As a country, America too is becoming a fast-rising hub for crypto mining having the number of companies with mining facilities increasing every day.