Jack Dorsey’s Square is investing $5 million in building a bitcoin mine that runs on solar power

Jack Dorsey’s Square is investing $5 million in building a bitcoin mine that runs on solar power

Jack Dorsey-led Square is investing $5 million into building a bitcoin mine that runs on solar power, teaming up with bitcoin technology company Blockstream on the project as debate over crypto's environmental impact intensifies. While digital payments company Square is backing the project financially, Blockstream is providing infrastructure and expertise for the renewable-energy bitcoin-mining facility. It will be developed at one of Blockstream's existing crypto-mining sites in the US and be designed to function as a "proof-of concept" to demonstrate that bitcoin mining can be sustainable. "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 sustainable future," Blockstream said in a on Sunday. Twitter creator and Square CEO Jack Dorsey has that bitcoin encourages global moves toward sustainability and renewable energy, and the project is part of the digital payments company's Bitcoin Clean Energy Initiative. "Together, we'll be creating a public-facing dashboard to serve as a transparent case study for renewable energy and bitcoin mining. As we continue to explore the synergies between the two, we're excited to share our ongoing learnings and real-world data points." Square said on . The