Blockstream Bought $25M Worth Of MicroBTC Mining Hardware
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Blockstream bought $25 million worth of new bitcoin mining hardware equipment with plans to allocate some of the ASICs to a new top-secret mining facility that is under construction so let’s find out more in our latest bitcoin news.
The popular blockchain company Blockstream bought $25 million worth of MicroBT’s M30s BTC mining hardware. the company stated in an announcement that it plans to deploy the hardware across its various mining facilities that are located in the United States and Canada. Furthermore, Blockstream disclosed that it will allocate some of the mining equipment to a new mining facility that will be launched soon. The purchase will be an essential addition to the hosting services of the company as it looks forward to continuing to provide the clients with reliable solutions.
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Blockstream bought $25 million worth of new bitcoin mining hardware equipment with plans to allocate some of the ASICs to a new top-secret mining facility that is under construction so let’s find out more in our latest bitcoin news.
The popular blockchain company Blockstream bought $25 million worth of MicroBT’s M30s BTC mining hardware. the company stated in an announcement that it plans to deploy the hardware across its various mining facilities that are located in the United States and Canada. Furthermore, Blockstream disclosed that it will allocate some of the mining equipment to a new mining facility that will be launched soon. The purchase will be an essential addition to the hosting services of the company as it looks forward to continuing to provide the clients with reliable solutions.
Since Blockstream launched its mining hosting service back in 2017, its operation attracted several institutional-based clients like Fidelity Center for Applied Technology, LinkedIn founder Reid Hoffman among others. According to the announcement, the company said it has over 300 megawatts in a capacity that are available for operations in North America. The company added that with more institutional clients looking to get involved with BTC mining activities, it aims to grow the operations over the year. Samson Mow, chief strategy officer at Blockstream said:
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“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.”
Through its existence, the number one provider of blockchain technology was involved in prolonged testing of various mining hardware and is convinced that there’s no better miner than the MicroBT WhatsMiner. Commenting on the development, Sunny Liu who is the Vice President of MicroBT said that both companies agreed on the deal for testing the BTC mining hardware for companies located outside China. Liu added that Blockstream’s move to order a huge amount of the hardware demonstrates the confidence in the M30 series.
With the recent spike of BTC earlier this month, a few investors are now looking to get involved with the asset class with mining seemed to be one of the possible ways to do so. The sale of BTC mining hardware increased dramatically with the producers finding it hard to meet the demands.
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Wallstreetbets and GameStop saga set for Hollywood treatment in new film
The r/Wallstreetbets saga which saw a group of Redditors join forces to extract billions from Wall Street hedge funds is set to be turned into a movie.
As reported by Deadline on Jan. 31, a newly proposed book by The Social Network author, Ben Mezrich, was subject to a bidding war between major Hollywood studios, with Metro-Goldwyn-Mayer winning out in the end.
The project will reunite Mezrich with MGM producer Michael DeLuca, who also produced the Academy-Award winning film The Social Network, which told the story of the rise of Facebook founder Mark Zuckerberg.
No details have yet been released regarding the shape the film will take, but it is expected to focus on the recent “short squeeze” orchestrated by members of the r/Wallstreetbets subreddit.
The film will perhaps benefit from the presence of major cryptocurrency figures, Cameron and Tyler Winklevoss — founders and operators of the Gemini exchange. The Winklevoss brothers will join the project as executive producers under their Winklevoss Pictures production company.
After noticing that major hedge funds were shorting GameStop (GME) shares, the Redditors saw a prime opportunity to make profits by collectively betting the other way.
This resulted in the value of GME shares skyrocketing over 2,600% in January alone, with the knock-on effect of causing Wall Street shorters to lose tens of billions of dollars. One hedge fund, Citadel’s Melvin Capital, reported 53% losses in January and has since been forced to restructure its investment portfolio to ensure quicker exit strategies in the future.
The sudden explosion of GameStop stock was all the more surprising given that most people considered it to be a dead brand; a victim of the streaming market which has effectively transferred media consumption from the TV to the internet.
Even more seemingly dead companies were resurrected by Reddit’s merry band of traders, including AMC (up 905% in January), as well as Nokia, Blackberry, and Bed, Bath and Beyond.
In the aftermath of the short squeeze, many trading apps suspended users from buying any more of the shares in question. The Robinhood app came under particularly heavy fire after observers noticed that 35% of its revenue came from Citadel Securities — a sister company of the same hedge fund which lost billions of dollars.
This prompted outrage from all corners of the internet and beyond. Politicians from both sides of the spectrum have since voiced their concerns about the actions of RobinHood, with hundreds of thousands of viewers tuning in to watch Alexandra Ocasio-Cortez discuss the possible illegality of the firm’s actions. The United States Securities and Exchange Commission has since stated that it will be looking into Robinhood’s handling of the GameStop drama, fearing that such actions will undermine market confidence.
BLOCKCHAIN
Stratis Protocol Receives Investment from Alphabit, a Billion-Dollar Regulated Fund
Unlocking Blockchain Capabilities to Mainstream Businesses
The fund has subsequently deployed an initial investment with a commitment to inject a seven-figure amount over the next two years. This, according to the press release, will empower and help in the growth and development of the Stratis Protocol, a platform that offers Blockchain-as-a-Solution (BaaS) services for firms that are keen to adopt distributed ledger technologies in their operations.
The Stratis Protocol ecosystem comprises the Stratis Identity, Supply Trust, an STO Platform for launching securities, and Stratis Smart Contracts developed in the C# programming language.
Their solutions easily merge with legacy operations allowing for a seamless transition while concurrently enabling smooth execution of smart contracts.
The smart contracting platform also enables side chains for easy scaling. Besides, their choice programming language, C#, is popular, further lowering barriers, fast-tracking enterprise adoption of distributed ledger technologies.
The Stratis Protocol is an implementation of the Bitcoin protocol in C# on the Microsoft .NET core platform. Its core platform aims to bring Blockchain-as-a-Service to businesses via the Azure cloud alongside tool customization while remaining open source.
Accordingly, they are unlocking blockchain’s power for businesses, enabling access to the under-explored but potent technology.
Stratis Protocol Can Exponentially Grow
The investment from Alphabit, according to the CEO Chris Trew, will accelerate the adoption of Stratis Technologies, making it a go-to platform for Microsoft .NET Blockchain development:
“We are thrilled to partner with Alphabit, one of the world’s first regulated digital asset investment funds. Alphabit’s initial injection, in conjunction with their further investment commitment, will unquestionably assist in accelerating the adoption of Stratis Technologies, while cementing Stratis as the go-to platform for Microsoft .NET Blockchain development.”
For their offering and core objective, Alphabit assesses that the Stratis Protocol can grow exponentially. Liam Robertson, the CEO of Alphabit, said:
“Stratis Protocol, after analysis, fits neatly into our investment thesis, and we believe the potential for growth for Stratis to be exponential. We are delighted to welcome Stratis into our portfolio and look forward to supporting them over the coming months and years.”
In Q1 2021, Stratis plans to launch, among other solutions, the Unity Development Kit enabling the integration of NFTs and DID in gaming ecosystems and the DeFi Software Library a catalog of C# standardized smart contracts.
BLOCKCHAIN
FTX Adds Silver Stocks Amid Reddit-Led Market Surge
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