Blockstream yesterday announced the launch of Blockstream mining, which will provide mining equipment colocation in its purpose-built data centers. The facilities will be available in Canda and America. The company launched its mining product with the aim to help maintain the decentralized security of the Bitcoin network.
The company claims to provide a turnkey, enterprise-class colocation service that will enable the customer to monitor and control their mining equipment with complete transparency. According to the information on the company’s official website, Blockstream started its bitcoin mining operation back in 2017with the concern that bitcoin mining decentralization was decreasing. The company has signed Fidelity Center for Applied Technology and LinkedIn co-founder Reid Hoffman as its clients.
Blockstream is among one of the first Bitcoin mining companies to enter the Quebec hydropower market. The company also claims to have a self-mining operation, which represents less than 1% of the global hash rate, running on a combination of hardware from Bitfury, Ebang, MicroBT, and other manufacturers.
Alongside the launch of Blockstream mining service the company also announced the launch of Blockstream Pool. According to the company, the pool is based on a BetterHash rate protocol. It is an improved mining pool that allows individual miners to control which bitcoin transactions to include in their newly mined blocks. The company has expressed to collaborate on pool protocol standards.