Aleo Gets Bitmain’s Mining Support
Crypto mining rig manufacturer Bitmain has announced plans to release a new Antminer that will support the proof-of-work (PoW) blockchain network Aleo. The Aleo PoW blockchain is currently in testnet mode and is a layer one (L1) blockchain that prioritizes privacy and programmability through zero-knowledge proofs and the use of the Leo programming language.
Bitmain aims to launch the Aleo Antminer to support the growth of the Aleo ecosystem, according to a post by the company.
Bitmain’s Recent Product Launches
In recent months, Bitmain has been busy with multiple product launches. In July, the company announced a filecoin (FIL) mining rig, followed by the shipment of kaspa (KAS) mining machines in August. Shortly after, Bitmain revealed plans for a monero (XMR) mining rig. Most recently, Bitmain released two next-generation bitcoin (BTC) miners from the S21 series.
Despite recent reports of financial challenges and difficulties in paying staff, Bitmain secured contracts with two US-based mining operations, Iris Energy and Cleanspark, selling a combined 5.8 exahash per second (EH/s) of its new S21 Antminers.
Aleo’s Funding Success
Aleo has attracted significant attention and funding. In April 2021, the project raised $28 million in a Series A round led by Andreessen Horowitz. In February 2022, Aleo’s Series B funding reached $200 million, with Softbank Vision Fund 2 and Kora Management LP leading the round. Other participants included a16z, Tiger Global, Sea Capital, Slow Ventures, and Samsung Next.
Hot Take: Bitmain Expands Mining Support to Aleo
Bitmain’s decision to release an Antminer compatible with Aleo’s blockchain network is a significant move for both companies. It showcases Bitmain’s commitment to supporting emerging PoW blockchains and highlights Aleo’s potential as a privacy-focused and programmable L1 blockchain. With Bitmain’s track record of successful product launches, the Aleo Antminer could contribute to the growth and adoption of the Aleo ecosystem. As Aleo continues to attract funding and attention from investors, this partnership with Bitmain adds further credibility to its project. Overall, this collaboration has the potential to benefit both Bitmain and Aleo in their respective goals within the crypto industry.
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