Bitmain invests in blockchain data storage startup Lambda

Blockchain-based data storage company Lambda has announced that it has received financial investment from bitcoin mining giant Bitmain Technologies.

Founded in 2013, Bitmain is the provider of leading consumer-grade, power-efficient bitcoin and cryptocurrency miners based on 16nm ASIC chips. It produces a large number of high quality, efficient computing chips, high-density server equipment, and large-scale parallel computing software. The company also operates the largest cryptocurrency mining pools worldwide—Antpool.com, BTC.com, and connectBTC.com—as well as hashnest.com, the leading cloud mining platform.

“Bitmain has demonstrated its commitment to expanding strong, DApp blockchain companies such as Lambda,” said Xiaoyang He, CEO of Lambda. “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.”

Headquartered in Singapore, Lambda is a fast, safe, and scalable blockchain infrastructure project. In its official release, the company said that the funding will be used to support secure blockchain-based infrastructure and decentralized applications (DApps).

“Storage is an interesting development area in blockchain infrastructure and Lambda’s technology vision, pragmatic roadmap, and progress to-date have been key factors for us,” said a spokesperson at Bitmain. “We look forward to working with Lambda.”