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Is Blockstream Setting Up A Mining Base?

It has emerged that Blockstream has acquired numerous crypto mining equipment from an Asian firm. Speculations are rife that the firm might be planning to join the mining business. Data indicates that Innosilicon based in China supplied the equipment.


 

Blockstream which is a prominent Bitcoin Core funding contributor is yet to explain the equipment's purpose. The America based firm has not shown any possibility of joining the mining sector.

Four containers with 62 pallets arrived in New York late last month from Thailand. The pallets were labeled 'TI' (Terminator for Innosilicon). There is a possibility that the US firm might have purchased approximately 4650 TIs considering the fact that a pallet can hold about 72 units. The units might have cost company close to $5.2 million. Normally, a TI unit can achieve the hash rate of 17.2TH/s.

Blockstream is traditionally mandated with setting up prototypes for the lighting technology. The firm is a partnership between Adam Back, Gregory Maxwell, and Pieter Wuille set up four years ago. On the other hand, Innosilicon provides affordable, high-performance, and customizable solutions. It targets mobile devices, televisions, networking equipment among others.



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