RATE Group | Blockstream makes its Bitcoin mining operations public
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Blockstream makes its Bitcoin mining operations public

10 Aug Blockstream makes its Bitcoin mining operations public

Posted at 18:24h in Bitcoin News by

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Blockstream, the Canadian blockchain services company well known for its work on the Bitcoin Lightning Network, yesterday announced details of its Bitcoin mining operations, opening the doors to more institutional and enterprise customers. It revealed it had been mining on behalf of major investment company Fidelity and LinkedIn co-founder Reid Hoffman.

It has also created a mining pool called Blockstream Pool, to offer smaller miners the chance to tap into its vast resources. The two offerings will be based in North America and will be using sustainable energy in partnership with utility provider Hydro Quebec.

The company said the project began in 2017 due to concerns that the Bitcoin mining hashrate became increasingly centralized. According to Blockstream CSO Samson Mow, the mining operations can produce up to six exahashes of mining power, at full power, which is just shy of 10 percent of Bitcoin’s current total network hashrate—currently at 67.6 exahashes.

Mow added that…

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