Square and Blockstream To Build U.S. Based Bitcoin Mine With Renewable Energy
Bitcoin mining is on the move. Around the world, more companies and initiatives are being brought to life. Blockstream and Square have announced a partnership to build one in the U.S. based on renewable energy. The Bitcoin infrastructure startup, led by Adam Back, and the financial services company, led by Jack Dorsey, will create an […]
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Blockstream is a leading blockchain development company founded by Adam Back in 2014. Square Inc., a crypto-friendly mobile payments company, is planning to invest $5 million in a solar-powered Bitcoin (BTC) mining facility for Blockstream Mining, offering further insight into Jack Dorsey’s continued support for blockchain infrastructure. Chris Cook, Blockstream’s chief information officer, announced the collaborative partnership on Saturday, where he outlined plans to build the open-sourced mining facility at one of Blockstream’s United States operations."Together, we plan to provide....
The site will use a combination of solar panels and battery storage from excess daylight to power Bitcoin mining. On Friday, cryptocurrency storage company Blockstream and Block Inc. (formerly Square) announced the construction of a solar-powered Bitcoin (BTC) mining facility in Texas. As told by Blockstream, the mining site will be outfitted with 3.8 megawatts (MW) of electrical capacity using Tesla's Solar photovoltaic cell array and a 12 MWh Megapack.Manufactured by Tesla Energy, Megapack is a powerful lithium-ion battery that provides energy storage and support. In context, one of the....
Blockstream and Square partnered to construct a solar-powered bitcoin mining facility and demonstrate potential for sustainable energy use.
In a new white paper, financial services company Square outlines the opportunity presented by Bitcoin to spur more use of renewable energy.