Blockstream announces spinoff of its mining and ASIC divisions
Blockstream, a Bitcoin infrastructure company, announced in a press release on Wednesday that as part of its new expansion strategy, the company will spin off its mining and ASIC departments, making them independent companies. Chris Cook, President of Blockstream's mining division, and Assaf Gilboa, Executive Vice President of the ASIC division, have both been promoted to serve as CEOs of their respective entities. Blockstream CEO Adam Back said: "Looking ahead, we will continue to explore various ways to have the most impact, focusing on building financial rails and infrastructure to help ensure the long-term success of Bitcoin." The company also revealed that it will launch "several new products" at the annual Bitcoin conference in mid-May in Las Vegas, aimed at "creating a more streamlined and integrated user experience within Blockstream's technology stack."
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