Jack Dorsey’s Square Inc. to spend $5 Million in Blockstream BTC mining facility

Blockstream is a foremost blockchain development company originated by Adam Back in 2014.
Square Inc., a crypto-friendly mobile payments company, is preparation to invest $5M in a solar-powered BTC mining ability for Blockstream Mining, present additional vision into Jack Dorsey’s sustained support for blockchain infrastructure.
Chris Cook, Blockstream’s chief info officer, proclaimed the collaborative partnership on Saturday, where he drew plans to build the open-sourced mining facility at one of Blockstream’s U.S operations.
‘Together, we strategy to provide public transparency by distribution the project economics and knowledge we’ve increased from building a BTC mine powered by renewable energy,’ he held, adding:
‘Eventually, we confidence to demonstrate how BTC mining in conjunction with renewable energy aid can drive the clean energy transition.’
In addition to if regular reports on the status of the project, the novel inventiveness will also feature a so-called public presentation dashboard, where anyone can pull real-time metrics of the removal facility.
BTC mining has been the subject of extreme media scrutiny afterward Tesla CEO Elon Musk obvious to stop accepting BTC payments for Tesla cars, citing serious environmental anxieties.
MicroStrategy’s Michael Saylor brokered a truce between Musk and the BTC mining community previous month by carrying both sides to the table for high-level talks. The industry-led BTC Mining Council arose out of the meeting, with miners vowing to hurry sustainability initiatives.
As for Square Inc. the Jack Dorsey-led company has been ramping up exertions to boost acceptance of BTC and cryptocurrencies. Cointelegraph reported Friday that Dorsey is powerfully seeing developing a BTC hardware wallet in a struggle to carry self-custody and financial presence to the masses.
‘If we do it, we would build it totally in the open, from software to hardware design, and in teamwork with the community,’ he held in a Twitter post.