Digital payments entity Square is solving the environmental impacts of bitcoin mining with a $5 million investment into a solar-powered mine.
- Square will team up with Blockstream, a bitcoin technology company, in the project.
- Blockstream is expected to provide expertise and infrastructure for the mining facility to be built at one of its U.S crypto-mines.
- Square and Blockstream want to use the solar-powered mining facility as a “proof of concept” of sustainability of bitcoin mining in the wake of environmental concerns.
- Square’s CEO Jack Dorsey believes bitcoin enhances gravitation towards renewable power and sustainability
Process and code behind Square and Blockstream’s bitcoin mining project will be publicly provided.
BTCUSD is up 2.25%
Source: Markets Insider.