Bitcoin miner Bitmain acquires data analytics startup

Bitmain, one of the largest mining pool operators on the Bitcoin network, has acquired Blocktrail, a Bitcoin data and analytics startup.

With the completion of the acquisition announced today, Bitmain will seek to upgrade the services it provides on the Bitcoin network. The acquisition is the latest in the industry, which is also a special part of corporate transactions.

Following the announcement, three full-time Blocktrail employees will join Bitmain’s team, including Blocktrail founder Boaz Bechar, who has previously expressed optimism that BitTorrent will help his team gain more users.

“There’s been a lot of consolidation over the past year, and it’s been really wonderful for us to finally get a chance to put all the technology we’ve built to work,” Bechar told CoinDesk.

Bechar said Blocktrail will significantly expand its European team in the future.

“I think Bitcoin is going to get better and better. We’re going to have a bigger and bigger team and more and more resources,” Bechar said.