Blockstream undergoes major restructuring, divesting mining and ASIC divisions

Odaily Planet Daily News Bitcoin infrastructure company Blockstream announced in a press release on Wednesday that as part of its newly implemented expansion strategy, the company will spin off its mining and ASIC departments to make them independent companies. Chris Cook, president of Blockstream's mining department, and Assaf Gilboa, executive vice president of the ASIC department, were both promoted to CEO of their respective entities. "Looking ahead, we will continue to explore various ways to make the greatest impact, focusing on building financial rails and infrastructure to help ensure the long-term success of Bitcoin," said Adam Back, CEO of Blockstream. The company also revealed that it will launch "several new products" at the annual Bitcoin Conference in Las Vegas in mid-May, which will be designed to "create a more streamlined and integrated user experience in Blockstream's technology stack."