Square Inc., a crypto-friendly mobile payments company, is planning to invest $5 million in a solar-powered Bitcoin (BTC) mining facility for Blockstream Mining, offering further insight into Jack Dorsey’s continued support for blockchain infrastructure.
Chris Cook, Blockstream’s chief information officer, announced the collaborative partnership on Saturday, where he outlined plans to build the open-sourced mining facility at one of Blockstream’s United States operations.
“Together, we plan to provide public transparency by sharing the project economics and knowledge we’ve gained from building a Bitcoin mine powered by renewable energy,” he said, adding:
“Ultimately, we hope to demonstrate how bitcoin mining in conjunction with renewable energy can help drive the clean energy transition.”
In addition to providing regular reports on the status of the project, the new initiative will also feature a so-called public performance dashboard, where anyone can pull real-time metrics of the mining facility.
Bitcoin mining has been the subject of extreme media scrutiny after Tesla CEO Elon Musk decided to stop accepting