Bitcoin technology company Blockstream has announced that it plans to reveal its highly anticipated Application-Specific Integrated Circuit (ASIC) miner in the third quarter of 2024.
The Unveiling of the Application-Specific Integrated Circuit (ASIC) Miner Represents an Important Milestone for Blockstream
Bitcoin technology company Blockstream has announced that it plans to reveal its highly anticipated Application-Specific Integrated Circuit (ASIC) miner in the third quarter of 2024. This marks the culmination of years of engineering work for the company. Blockstream CEO and co-founder Adam Back made the announcement during the company's inaugural media briefing. In 2021, Blockstream acquired Bitcoin mining hardware maker Spondoolies.
Previously, Blockstream successfully raised $125 million to expand its mining operations, and the company now plans to secure further funding. Initially scheduled for a 2022 launch, the release of the new ASIC miner has been delayed, and Back now expects it to be available in the latter half of 2024. Back explained that there are two manufacturing approaches, with the first being a test run referred to as a "shuffle run," which is anticipated to take place in the third quarter of the following year.
During the media briefing, Back and his executive team also discussed other notable projects by Blockstream. These include Liquid, a sidechain that interacts with the primary Bitcoin blockchain, and Jade, Blockstream's flagship hardware Bitcoin wallet. The unveiling of the ASIC miner represents an important milestone for Blockstream as it aims to further strengthen its presence in the Bitcoin mining industry.
