Blockstream Buys $25 Million Worth of MicroBT Bitcoin Mining Hardware

Popular blockchain company, Blockstream has purchased $25 million worth of MicroBT’s WhatsMiner M30s Bitcoin mining hardware. 

Blockstream stated in an announcement that it plans to deploy the hardware across its various mining facilities located in the United States and Canada. 

A Top Secret Mining Facility

Furthermore, Blockstream disclosed that it would allocate some of the mining equipment to a new “top-secret” mining facility it plans to launch soon. 

The purchase will be an essential addition to the company’s enterprise-class hosting services, as it looks forward to continuing to provide its clients with reliable solutions.

Since Blockstream launched its mining hosting service in 2017, its operation has attracted several institutional-based clients, including Fidelity Center for Applied Technology (FCAT), LinkedIn founder Reid Hoffman, among others. 

According to the announcement, the company said it currently has over 300 megawatts in capacity available for its operations in North America.

Institutional Clients Interested in Bitcoin Mining

The firm added that with more institutional clients looking to get involved with Bitcoin mining activities, it is committed to growing its operation throughout this year. 

“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,” Samson Mow, chief strategy officer of Blockstream, said. 

Throughout its existence, the leading provider of blockchain technologies has been involved in extensive testing of various mining hardware and is convinced that there is no better miner than MicroBT’s WhatsMiner. 

Commenting on the development, Sunny Liu, Vice President of MicroBT, said that both firms sealed the deal after Blockstream led the testing of the WhatsMiner M30s Bitcoin mining hardware for firms located outside China. 

Liu added that Blockstream’s subsequent move to order a large amount of the hardware demonstrates its confidence in the M30s series. 

Bitcoin Mining Hardware Sales

With the recent spike in Bitcoin (BTC) price earlier this month, several investors are looking at ways to get involved with the asset class, with mining seemed to be one of the possible ways. 

The sale of Bitcoin mining hardware has also increased significantly, with producers still finding it difficult to meet demands.