January 28, 2021

Blockstream Purchase $25M of Bitcoin Mining Hardware from MicroBT

$25 million of Bitcoin mining equipment added to one of the largest mining operations in North America

Blockstream Purchase $25M of Bitcoin Mining Hardware from MicroBT

Bitcoin infrastructure startup Blockstream has today announced a US$25 million purchase of WhatsMiner Bitcoin miners from Shenzhen-based MicroBT, the world’s leading manufacturer of Bitcoin mining equipment. The equipment is to be deployed across Blockstream’s extensive mining facilities in the USA and Canada.

“The WhatsMiner purchase cements Blockstream Mining’s position as one of the largest Bitcoin mining operations in North America,” said Adam Back, CEO of Blockstream. “With over 300 megawatts in capacity available and fast-growing demand from institutions looking to get involved in the Bitcoin gold rush, we’ll continue to grow aggressively throughout the next year.”

Blockstream currently offers enterprise-class Bitcoin mining colocation services to institutions looking for turnkey solutions. Clients mining with Blockstream include the Fidelity Center for Applied Technology (FCAT), LinkedIn founder Reid Hoffman, and many others.

“Right now, there’s no better mining hardware on the market than MicroBT’s WhatsMiner miners,” said Samson Mow, chief strategy officer of Blockstream. “We’re excited to continue our relationship with MicroBT and this latest batch will provide our hosting clients with an extremely reliable foundation to contribute to the security of the Bitcoin network.”

“Blockstream has been a key force in bringing Bitcoin to where it is today, so we’re especially excited to see their growing involvement in the mining space.” said Sunny Liu, VP of MicroBT. “Blockstream led the testing of the WhatsMiner M30S series outside of China, and their recent large order demonstrates their confidence in the reliability of the WhatsMiner M30S series. We’re looking forward to working together to provide even better management and returns for Blockstream’s hosting clients.”

Businesses can learn more about Blockstream Mining hosting services at blockstream.com/mining.

About Blockstream

Blockstream is the global leader in Bitcoin and blockchain infrastructure. Blockstream’s sidechain technology (Liquid Network) enables faster Bitcoin settlements while empowering financial institutions to tokenize assets. Blockstream Mining provides enterprise-class mining facilities for the colocation of Bitcoin mining operations. The Cryptocurrency Data Feed, developed in partnership with Intercontinental Exchange, delivers best-in-class real-time and historical exchange data. Blockstream Green is the world’s most advanced consumer Bitcoin wallet. Blockstream was founded in 2014, with offices and team members distributed around the world.

About Blockstream Mining

Blockstream Mining provides Bitcoin mining equipment colocation in purpose-built data centers designed to meet the needs of institutional and enterprise customers. Blockstream’s hosting services support the fast deployment of virtually any type of mining equipment and provide customers with complete control over their mining operations.