Blockstream Launches 300MW Bitcoin Mining Farm; Fidelity And LinkedIn Founder On-board Already

• Blockstream has launched a platform for customers to mine cryptocurrency.
• Early customers of this program include Fidelity and the founder of LinkedIn.

Mining in the cryptocurrency industry offers another source of profit to consumers, leading to a new colocation mining service with Blockstream.

The service is fairly new to the industry, and Fidelity Center for Applied Technology has already become one of the early customers of the service. Reid Hoffman, the founder of LinkedIn, is also an early customer.

Today we're excited to reveal Blockstream Mining and Pool, providing enterprise-class mining equipment colocation in our US & Canada data centers, and the first-ever #BetterHash mining pool for a stronger, more decentralized #Bitcoin network. 🌎⛏️⛓️ https://t.co/sMVTTJNNep pic.twitter.com/EeQwuqyrB9

— Blockstream (@Blockstream) August 8, 2019

The new Blockstream Mining platform was announced on Thursday, as well as the Blockstream Pool, which is a BetterHash-based mining pool. The colocation services are hosted in North America, and a new installation was just launched in Georgia.

Customers will have approximately 300 megawatts, or 300,000 kilowatt-hours of energy, available to them, which is enough to handle around 100,000 of the more advanced ASIC mining devices.

Blockstream’s CSO, Samson Mow, explained that the efforts to get involved with mining in this sector were predominantly driven by concerns over the future of the network. The platform was already mining for their own platform in 2017, following rumors of the decline of decentralization. Mow stated,

“We figured we could use our Bitcoin expertise to improve the situation.”