Jack Dorsey’s Square is partnering with prominent Bitcoin development company Blockstream to create a new solar-powered BTC mining facility.
According to an announcement from Blockstream, the blockchain powerhouse is collaborating with the payments giant in an effort to develop a scalable and sustainable Bitcoin mining process.
“Square intends to invest $5 million in the facility, with Blockstream providing infrastructure and expertise to build and manage the project. The facility will be a proof-of-concept for a 100% renewable energy Bitcoin mine at scale, with the economics of the build-out – including operational costs and ROI – made open to the public.
While we know that many mining operations throughout the world, including ours, already rely on renewable energy (as it is the most cost-effective power available), we hope that the open and transparent nature of this project will become a model that other businesses can learn from. We hope to show that a renewable mining facility in the real