April 25, 2024

Blockstream launches Bitcoin mining pool

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According to a message published on Thursday, 8August, the Canadian company Blockstream launches a BTC mining pool. Blockstream's data center will serve customers in addition to its own operations. The mining venture is supported by Fidelity's Applied Technology Center and LinkedIn co-founder Reid Hoffman.

According to Blockstream, the company began itsactivities in 2017 and was “motivated by widespread concern about a decrease in the level of mining decentralization.” According to a Forbes report, the Blockstream data center will account for approximately 7% of the Bitcoin network’s daily hashrate.

Blockstream previously raised $90 million frominvestors including Khosla Ventures, AXA Venture Partners and Reid Hoffman. The company launched a line of products and services, including Liquid, a commercial product, Blockstream Green, a mobile Bitcoin wallet, and a service that allows users to broadcast and receive Bitcoin transactions from satellites &#8211; Blockstream Satellite.