Blockstream To Release Accessible Mining Pool and Facility

Blockstream Workers Supposedly Treating Themselves with Huge Bitcoin Salaries
Blockstream Workers Supposedly Treating Themselves with Huge Bitcoin Salaries

Blockstream, a Canada-based Bitcoin tech company, will be bringing out its own Bitcoin mining pool and facility, reports The Block Crypto.

This news comes to us via an official Blockstream blog post, in which the company revealed they “believe that bitcoin holders and businesses involved in Bitcoin should take part in mining themselves, to help maintain the decentralized security of the Bitcoin network.”

The goal here is to make mining more accessible. As you may know, the barrier to cryptocurrency mining is quite high. It requires extensive knowledge of computer hardware, is expensive, and potential miners have to find the right space to participate.

“Blockstream Mining addresses these issues by providing a turnkey, enterprise-class colocation service,” the post reads. This enables “the customer to monitor and control their mining equipment with complete transparency.”

Started back in 2017, Blockstream was aware that “mining decentralization” was on the decline. “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,” the post reads.

Since then, the platform has upped its technology, brought in more avenues for mining power, and have become host to clients like the Fidelity Center for Applied Technology, and Reid Hoffman, a co-founder of LinkedIn.

Now, Blockstream is expanding its efforts in four distinct ways, ensuring companies can “remotely manage their mining equipment”:

  1. Logistics: Our experienced team can help arrange the international logistics to ensure safe shipment of mining equipment to our facilities.
  2. Installation: Our facilities’ power and networking infrastructure have been custom-built for fast deployment and maximum reliability.
  3. Operation: Miners can be managed remotely via the Blockstream Mining control panel, delivering real-time analytics and control over each device’s operation.
  4. Support: On-site technicians will keep your miners running and promptly deal with any updates or maintenance when required.

Thanks to this mining operation, users now have another way to make money with Bitcoin.

Remember, all trading carries risk. Past performance is no guarantee of future results.

Cryptocurrency and games writer. Looking to the future by studying how these two industries can blend.