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Square to invest US$5 million in Blockstream's solar-powered bitcoin mining facility

Square to invest US$5 million in Blockstream's solar-powered bitcoin mining facility

FILE PHOTO: Representations of the virtual currency Bitcoin stand on a motherboard in this picture illustration taken May 20, 2021. REUTERS/Dado Ruvic/Illustration

WASHINGTON: Blockchain technology company Blockstream Mining said on Saturday (Jun 5) that Square will invest US$5 million to build an open-source, solar-powered bitcoin mining facility at one of Blockstream's US sites.

Blockstream, in an announcement on its blog, said the "facility will be a proof-of-concept for a 100 per cent renewable energy Bitcoin mine at scale."

Square, in a tweet, said it was teaming up with Blockstream as part of its Bitcoin Clean Energy Initiative.


Source: Reuters

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