BlockFi, which provides loans secured by cryptocurrencies, started mining bitcoin in partnership with Blockstream, which placed the company’s ASIC miners at its facilities.
Blockstream Mining has placed new BlockFi ASIC miners in one of its mining centers with a capacity of up to 300 MW in the American city of Adela. BlockFi Mining Leader Joe Chu said:
“As BlockFi seeks to expand its offerings to the mining community and accumulate BTC on its balance sheet, mining directly to support the Bitcoin network provides opportunities for vertically integrating our supply chain while diversifying our revenue streams.”
BlockFi said it uses ASIC miners MicroBT and Bitmain, but the number of devices used for mining has not been disclosed. Blockstream Mining, created by Blockstream, is one of the few firms that not only installs its own cryptocurrency mining devices at its facilities, but also devices from other firms in so-called colocation centers.
The demand for such services in North America is now greater than ever, as mining companies in the region are actively expanding. Recently, the American company Integrated Ventures announced the purchase of 4,800 Antminer S19J ASIC miners from the Chinese manufacturer Bitmain. The deal was valued at over $ 34 million.
Mining company Riot Blockchain also ordered 42,000 S19j Antminer ASIC miners from Bitmain for $ 138.5 million in April, doubling the company’s current hash rate.
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