Think outside the box with the new upstream black box for home bitcoin mining

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Upstream Data CEO Steve Barbour joins Bitcoin Magazine for an exclusive interview on their latest mining product, the Black Box.

A revolution is brewing in northern Canada on the Alberta-Saskatchewan border, where Steve Barbour and Upstream Data are building new equipment for home bitcoin mining.

Winter temperatures in Lloydminster are well below freezing, but Barbour, CEO and founder of Upstream, has a mission to both decentralize mining and build better equipment ranging from large mining rigs and huts to small black boxes for home mining.

Founded in 2017, Upstream Data is best known for its innovation in capturing emissions from the oil and gas industry, in the United States and Canada, using captured methane and flared natural gas to power mining platforms. Bitcoin mobiles.

Now Barbour sees an opportunity to help decentralize mining and raise awareness of bitcoin mining at home.

“Home mining is not a passing fad, it is a growing industry and will likely represent the largest mining industry for the hash power deployed in the future,” Barbour told Bitcoin Magazine in a recent interview.

Upstream also hired home mining activist Econoalchemist who recently produced a comprehensive guide on setting up KYC-free mining at home.

Black box innovation

Seeing a potential business opportunity, Barbour designed and built a sample Black Box for indoor / outdoor mining that can accommodate from two to 24 ASICs and contain heat and noise.

“I always wanted to design a home miner mining enclosure because I knew the market would someday grow,” Barbour told Bitcoin Magazine.

“I didn’t expect him to get the reaction he is having, so we’re extremely happy to start commercial production on the home mining version as well as the small-scale commercial / industrial version of the Black Box. from January until 2022. “

With growing demand, Barbour expects Black Boxes to account for at least 50% of their company’s sales efforts.

Bypass Supply Chain Problems

New companies trying to meet the growing demand for equipment are faced with a cranky supply chain that makes it difficult to meet customer demand.

Having started modestly in 2017, Upstream has built a network of suppliers that allows them to take a step forward, particularly in obtaining wood and steel. In addition, they build their own inventory of raw materials.

Barbour explained:

“On the sourcing side, I’ve spent a lot of time designing our products for modularity and practicality, so we buy a lot of identical materials in bulk, which helps limit supply chain issues. We can build bitcoin mines faster and with fewer man hours than anyone on the planet because we are building everything from scratch and each product scales linearly in coin quantity due to this modularity. It also allows us to have the most versatile product base in the industry.

As Barbour explained in a recent podcast, Upstream integrates vertically, first with the purchase of a build shop, then an engine build shop. While some vendors don’t use bitcoin, the company does as much bitcoin as possible as it builds up its bitcoin treasury.

You can bet this little engine isn’t going anywhere but upwards.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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