BitPay Enters Agreement with Bitmain to Develop Open Source Blockchain Security Software

BitPay
BitPay
May 2, 2017 · 3 min read

ATLANTA — MAY 2, 2017 — Today bitcoin payments leader BitPay announced that it has entered into a multi-million dollar development agreement with Bitmain Technologies, the foremost provider of the “mining” hardware used to secure blockchains. Over the course of its multi-year agreement with new customer Bitmain, BitPay will create advanced open source software for the miners, mining pools and full node operators which maintain and secure blockchain transactions.

BitPay will draw on its more than six years of experience in building payment technology and secure open source platforms for payments on the Bitcoin blockchain. BitPay has a long tradition of servicing the most significant companies in blockchain mining hardware and is now pleased to count Bitmain among its customers. BitPay also processes hundreds of millions of dollars in payments yearly for businesses worldwide, including industry leaders like Microsoft, Valve, and PaySafe.

“At BitPay, we recognize that there is an untapped market of mining companies that require more advanced platforms for their businesses than are available today,” said BitPay CEO Stephen Pair. “We value having Bitmain as a customer, and we believe that miners and mining technology providers like Bitmain play a vital role in the security and ongoing success of the Bitcoin blockchain.”

Bitmain is one of the most successful providers of the hardware used to secure blockchain transactions. In recent years, the company has played a major role in hardware innovation to support the exponential growth of Bitcoin — the world’s first and most successful blockchain.

“BitPay has established itself as a leader in open source development for the Bitcoin blockchain,” said Bitmain CEO Jihan Wu. “We believe that together we can make real improvements in how we secure blockchain transactions and grow the impact of blockchain technology in digital payments.”


About BitPay

Founded in 2011, BitPay is the first and most experienced provider of blockchain payment technology. The company provides innovative tools for digital payments in ecommerce, business to business, and supply chain transactions, serving industry leaders like Microsoft, Valve, and PaySafe.

BitPay has offices in North America, Europe, and South America and has raised over $32 million from top investors including Index Ventures, Peter Thiel’s Founders Fund, and Sir Richard Branson. For more information on BitPay and what it’s doing in the world of payments, visit www.bitpay.com or email media@bitpay.com.

About BitMain Technologies, Ltd.

Founded in 2013, Bitmain Technologies, described as the world’s most valuable bitcoin company, was established to develop and sell the world’s leading bitcoin miners using Bitmain’s ASIC chip technology. Bitmain is now among the most recognizable companies in the cryptocurrency space and the proud parent of several brands, among them Antminer, Antpool, BTC.COM and Hashnest, all of which are among the leading companies in their respective fields. Bitmain’s machines and customers are present in more than 100 countries across the globe.

Bitmain remains devoted to the production of high quality and efficient computing chips, high density server equipment, and large scale parallel computing software. The company is proudly headquartered in Beijing, with offices in Amsterdam, Hong Kong, Tel Aviv, Qingdao, Chengdu and Shenzhen.


Media Contacts

BitPay — James Walpole | 404 793 6231 | media@bitpay.com

Bitmain — Nishant Sharma | +86 400 890 8855 | info@bitmaintech.com

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