Bitcoin Miner Bitmain Acquires Data Startup Blocktrail

Bitmain, the operator of one of the bitcoin network’s largest mining pools, has acquired a bitcoin data and analytics startup for an undisclosed amount.

With the acquisition of Blocktrail, announced today, Bitmain will seek to bolster the services it offers at BTC.com, a block explorer and analytics service it launched last September. The acquisition is the latest in what has proved to be a year of consolidation for the industry, which has seen particular activity in the exchange sector.

This year has so far seen the bitcoin mining chip manufacturer behind the Avalon chip series sold in the industry’s largest public acquisition, while CoinDesk was acquired by bitcoin investment firm Digital Currency Group.

With the news, three full-time Blocktrail employees will join the Bitmain team, including Blocktrail co-founder Boaz Bechar, who voiced his optimism that BTC.com would help his team reach more users.

Bechar told CoinDesk:

"We’ve seen a lot of consolidation going on in the past year, and for us, it was really a perfect match of finding a big player that has a use for all the technology we built."

Bechar said Blocktrail, co-founded by VKontakte co-founder Lev Leviev, would now be increasing its European team "significantly".

"I think BTC.com is going to be strong. We’re going to have a bigger team and bigger resources," Bechar said.

Marbles image via Shutterstock