Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Bitcoin Infrastructure Firm Blockstream to Unveil Its Long-Awaited Mining Rig in 3Q of 2024

Bitcoin Infrastructure Firm Blockstream to Unveil Its Long-Awaited Mining Rig in 3Q of 2024

CoindeskCoindesk2023/06/13 21:16
By:Frederick Munawa

The company expects to raise more capital to fund its mining business.

Rendered image of Blockstream’s new ASIC Bitcoin miner (Blockstream)

Bitcoin infrastructure firm Blockstream expects to unveil its long-awaited Application-Specific Integrated Circuit (ASIC) miner – a culmination of years of engineering work – around the third quarter of 2024, according to Blockstream CEO and co-founder Adam Back during the company’s first ever media briefing on Tuesday.

The company acquired Israeli mining hardware manufacturer Spondoolies in 2021, and brought the manufacturer’s core team into Blockstream’s mining division, which is headed by Chris Cook with former Spondoolies CEO Assaf Gilboa serving as executive vice president.

In January 2023, to expand mining operations, and says it plans to raise even more capital to fund its mining business. The new ASIC was originally slated for a 2022 launch but Back now anticipates having the miner available in the latter half of 2024.

“There's two rough approaches to manufacturing. One is to do a shuffle run first, which is kind of a test run,” Back told CoinDesk during the briefing. “So that would put the miner into sort of Q3 next year roughly.”

Besides delving into Blockstream’s mining business, Back and his executive team discussed the firm’s other projects such as , a federated sidechain or secondary blockchain that interacts with the primary Bitcoin blockchain and , Blocksteam’s flagship hardware bitcoin (BTC) wallet.

Edited by Aoyon Ashraf.

67

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!