BlockFi Taps Blockstream for Mining Colocation Services
Summary
BlockFi will deploy miners at Blockstreams modular mining facility in Adel, Georgia. By lowering these barriers to entry, Blockstream can expand institutional participation to help strengthen Bitcoin’s network security and further overall decentralization efforts. “As BlockFi looks to expand our offerings to the mining community and accumulate bitcoin on our balance sheet, mining directly to support the Bitcoin network provides a means to vertically integrate our supply chain while diversifying our revenue streams,” explained Joe Chu, Director, Principal Credit, and Mining at BlockFi. “We wanted to work with one of the leaders in the hosting industry, and Blockstream was at the top of that list with its strong track record of professionalism, reliability, customer service, and machine support.” The BlockFi mining partnership comes amid several significant rollouts from Blockstream Mining in recent months. “We’re thrilled to partner with such a pivotal player in the Bitcoin business community like BlockFi.