Coinbase Ventures, the investment arm of the major crypto exchange, has invested an undisclosed amount into Titan, a developer of software and services targeted at industrial Bitcoin (BTC) mining.
According to Titan’s announcement, the investment will help continue development of the company’s products and improve efficiency and profitability of Bitcoin mining companies.
Ryan Condron, co-founder and CEO of Titan, said that “mining has advanced from hobby, to industry, to critical global computing infrastructure, and Titan is prepared to help world-class miners meet these challenges.”
Titan offers advanced pool and mining software targeted specifically for professional U.S.-based miners. Its network of nodes and mining dashboards allows miners to better compete on a global scale, according to the company.
Previously, Titan launched the Titan Pool in collaboration with CoinMint and CoreScientific, two major mining infrastructure providers in the U.S. Among the benefits offered by the pool, Titan cites better transparency and, crucially, solving some jurisdictional issues for U.S. miners.
China currently accounts for the vast majority of the Bitcoin hashrate. The relative dominance can be attributed to a combination of attractiveTitle: Coinbase invests in US-based mining firm amid industry diversification efforts
Sourced From: cointelegraph.com/news/coinbase-invests-in-us-based-mining-firm-amid-industry-diversification-efforts
Published Date: Thu, 14 Jan 2021 18:03:00 +0000