Categories: CryptoNews

Blocktrail Acquired By Bitmain To Bolster BTC.com Service

Acquisitions in the Bitcoin industry are not unusual, albeit they do seem to occur more often in the past year or so. Bitmain, a company, best known for its Bitcoin mining hardware manufacturing capabilities, has acquired Blocktrail, a company focusing on Bitcoin data and analytics. It remains unknown as to what this acquisition will lead to.

What Does Bitmain Want With Blocktrail?

At first glance, there does not seem to be a reason for a hardware mining manufacturer to buy an analytics company. Then again, Blocktrail provides a ton of analytics about the Bitcoin ecosystem, including mining statistics, pools being used, and so on. Bitmain is looking to strengthen its position in the analytics field.

Very few people realize Bitmain is also running its own block explorer and analytics service. BTC.com was launched in September of 2015 and has been quite a success story so far. Bolstering this existing service is a difficult task, and it is possible the Blocktrail acquisition will play a role in this regard.

Interestingly enough, the acquisition amount was not disclosed to the media at this time. That is not entirely surprising either, as those types of details are usually unveiled at a later stage. That is, assuming the companies ever decide to divulge that information. Not that it should matter all that much, though.



Related Post

Acquisitions are occurring more often than they have ever done before. Some experts may argue the year 2016 is the year of consolidation in the cryptocurrency industry. Whether or not his is the case, remains to be seen. One thing is certain, though: a lot of companies are looking to bolster their offerings.

All three Blocktrail employees will join the Bitmain team moving forward. Working on the BTC.com project will be beneficial to these three individuals as well, as they can gain more visibility for their efforts through this platform. Developing technology is one aspect, but gaining recognition for the effort is something else entirely.

Image credit 1

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Ushering in a Brand New Ecology in Game: How Does HashLand Become a Vanguard to Guarantee Floor Value?

For some time in the past, Gamefi was criticized by many people as a lofty…

5 mins ago

Robinhood Shiba Inu Listing Not Happening This Year, Especially After the Recent Security Incident

With Robinhood's recent security incident that leaked over 5 million users' names and email addresses,…

1 hour ago

Loopring Price Down 10%, Is LRC a Good Investment for 2022?

There's no doubt that the cryptocurrency market has been experiencing a rough couple days. Loopring's…

2 hours ago

Here’s Why Precious Metals Belong in Your Portfolio

Whether you already have a large portfolio or you’re just getting started in investing, precious…

4 hours ago

Gala Price Doubles After Town Star Nodes Announcement

Gala price is up over 93% today, making it the biggest gainer on Crypto.com, followed…

7 hours ago

Shiba Inu Price Holding Support as the FUD Continues

Shiba Inu's price continues to hold the $0.000049 support level amid FUD from major news…

9 hours ago

This website uses cookies.