The Merger of Mining and Development, Can Blockstream Rule Bitcoin?

blockstream mining abstract

It has been known for some time that Blockstream mines at a small scale, with it unclear what pools they used, but you can probably guess. Now they’ve announced the launch of a new mining facility that is a hybrid of sorts. It has room for “300MW of energy capacity secured (with more sites on the way),” which apparently accounts for 6 exahashes, or about 7.5% of bitcoin’s current hashpower. “We also have a self-mining operation, which represents less than 1% of global hash rate, running on a combination of hardware from Bitfury, Ebang, MicroBT, and other manufacturers,” they say. All in all, relatively small numbers, with mining not quite a business for the light hearted. It can be a very brutal and a somewhat ruthless activity. Bitfury there, for example, can barely be seen now. It used to be on the right hand side of the image. BTCC has…

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