Square will invest $5 million to build solar-powered bitcoin mining facility
Financial services firm Square Inc. will partner with blockchain technology provider Blockstream Mining to build an open-source, solar-powered bitcoin mining facility, Blockstream announced in a press release Saturday. Square confirmed the news in a tweet, saying it was “committed to driving further adoption and efficiency of renewables within the bitcoin ecosystem.”
According to the release, Square will invest $5 million in the facility, which will be a “proof-of-concept for a 100% renewable energy Bitcoin mine at scale,” and will be built at one of Blockstream’s sites in the US. “We hope to show that a renewable mining facility in the real world is not only possible but also prove empirically that Bitcoin accelerates the world toward a...