Acquisitions are common in the Bitcoin industry, although acquisitions are more common than in previous years. To Bitcoin mining hardware manufacturing and well-known bit continent it has acquired Bitcoin data and analytical services businesses Blocktrail. The effect of this acquisition is currently unknown.
What is the purpose of Bitmain’s acquisition of Blocktrail?
At first glance, a hardware mining company seems to have no reason to acquire an analytics company. Moreover, Blocktrail provides a large number of analysis services related to the Bitcoin ecosystem, including mining data, using mining pools, and so on. The purpose of Bitmain’s move is to strengthen its position in the field of analysis.
Few people have noticed that Bitmain also operates a blocking query and analysis service. BTC.com was launched in September 2015 and has been very successful so far. Supporting this existing service is not easy, and it is likely that this acquisition of Blocktrail is to play a role in this regard.
Very interesting, the amount of this acquisition has not yet been released to the media. This is not surprising, usually, these details will be disclosed later. In other words, the information will not be announced until the acquirer decides to disclose it. Although this will not have much impact.
Acquisitions in the industry are more common than before. Many experts may say that 2016 is a year of consolidation in the cryptocurrency industry. It remains to be seen whether this will be the case. But one thing is certain: many companies are strengthening their services.
All 3 employees of Blocktrail will also join the Bitmain team. Working on the BTC.com project is also beneficial to these three people because they can gain more exposure through the platform. Developing technology is one aspect, but gaining recognition is another entirely.