US cryptocurrency companies turn to solar to make mining more environmentally friendly – The National
- Date: 10-Apr-2022
- Source: The National
- Sector:Financial Markets
- Country:Middle East
US cryptocurrency companies turn to solar to make mining more environmentally friendly – The National
Two US technology companies, Block and Blockstream, are preparing to launch a fully solar-powered Bitcoin creation centre, or mine, in June, in an effort to make cryptocurrencies less expensive and more environmentally friendly.
The digital payments group Block, formerly called Square, and blockchain specialist Blockstream have each invested $6 million in the pilot project which should initially produce about 0.1 Bitcoin a day, Blockstream chief executive Adam Back told AFP.
Blockstream announced the centre would be located in West Texas and equipped with Tesla solar panels and batteries.
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