Blockstream Reveals Secret Mining Project Geared at Improving Bitcoin Decentralization | BTCMANAGER
Bitcoin, Blockchain & Cryptocurrency News
On August 8, Canadian company Blockstream unveiled Blockstream Mining, a new solution to host and manage Bitcoin mining equipment at facilities located in Quebec and the United States. The project also includes a mining pool based on the BetterHash protocol.
Blockstream Emerges in Mining
Blockstream, a leading Bitcoin development company famous for its innovative service that provides free access to the Bitcoin network through satellite, announced on August 8, the launch of several Bitcoin mining infrastructures in Quebec, Canada, and Georgia, United States.
Adam Back, CEO of Blockstream, said the project would begin during 2017 in response to the possible centralization of Bitcoin mining. Thanks to these new infrastructures, mainly distributed in Canada and the United States, Blockstream will be able to count on 300 megawatts which correspond approximately to six Exa-hashes of computing power, representing 7.5 percent of the total Bitcoin hash rate. This figure has been reduced only recently due to a sharp increase in the hash rate in recent weeks on the Bitcoin network.
It is also important to note that the mining sites will mainly use hydroelectric energy as a resource, thus confirming the efficiency and eco-sustainability of this sector, which is often criticized.
Ready for Institutional Clients
The service has two solutions. The first is a hosting and management solution for bitcoin mining equipment for companies and institutions. The second is the creation of its own mining pool based on the BetterHash protocol which gives miners the ability to control Bitcoin transactions to include in their own blocks,