Blockstream expects to launch application-specific integrated circuit (ASIC) miners around the third quarter of 2024, said Adam Back, CEO and co-founder of Bitcoin infrastructure company Blockstream. The new ASIC miner was originally slated to launch in 2022, but it is now expected that the miner will be available in the second half of 2024.

It is reported that the company acquired the Israeli mining machine manufacturer Spondoolies in 2021 and brought the manufacturer's core team into Blockstream's mining department. Previously, in January this year, it was reported that Blockstream had completed financing of US$125 million and would expand its bitcoin mining services.