Bitmain invests in blockchain data storage startup Lambda

Bitmain invests in blockchain data storage startup Lambda

Chinese cryptocurrency mining equipment maker Bitmain Technologies Ltd. is investing in a blockchain-based data storage firm called Lambda.

Lambda CEO Xiaoyang He, in a press statement, said of the investment, “This investment from a global industry leader is a significant endorsement and recognition of Lambda’s longstanding dedication in creating a world-class blockchain-based storage solution.” For its part, a Bitmain spokesperson said “Lambda’s technology vision, pragmatic roadmap, and progress to-date have been key factors” in their decision to invest.

Lambda, in its website, states that its network will give projects credibility, with every token tracked. Because all data is stored permanently in blocks, where every transaction is viewable to other parties, “researchers can purchase resources on the network and never have to maintain servers again.”

A token presale, for the partial distribution of 10 billion Lambda, is scheduled for this month, although no definite date has been given. A regular sale in September and October will follow, according to the company.

Bitmain recently announced the opening of a $500-million data center in Rockdale, Texas, as part of its expansion plans in North America, which also include the purchase of a 20,000-square-foot facility in Silicon Valley.

Another recent investment of Bitmain has been with tribeOS, a digital advertising platform using the BCH blockchain, that aims to eliminate ad fraud and accurately provide visitor information and attribution to advertisers.

The maker of ASIC hardware for Bitcoin mining is also planning an initial public offering (IPO), with several larger firms reportedly backing the company, including Tencent from China. It was earlier reported that Japan-based Softbank, which has a 15% stake in Uber, was going to participate, but this was later denied by Softbank itself.

Although Bitmain CEO Jihan Wu has hinted at offering his stock in the Hong Kong Stock Exchange later this year, no definite announcements have been made.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.