Bitcoin technology company Blockstream said it bought $25 million worth of mining machines from MicroBT to expand its mining operations.
- The machines are to be deployed through Blockstream's facilities in Canada and the U.S. When the company expects to receive its ASICs was not specified.
- In 2019, Blockstream launched Blockstream Pool and announced it had been previously mining for a select few high-profile clients like Fidelity.
- Blockstream has over 300 megawatts in mining capacity available, said CEO Adam Back in a statement. "We'll continue to grow aggressively throughout the year," he said.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.