Payments Company Square Teams Up With Blockstream to Launch a Solar BTC Mine

Reading Time: < 1 minute

Square, a digital payments company owned by Jack Dorsey, has just announced it plans to build a green Bitcoin mine in the US that will only work with solar energy.

According to the joint announcement released by both companies on June 5, the initiative is part of Square’s promise made by the company in December to become a carbon neutral firm in relation to its BTC activities by the year 2030.

Square will support the project by providing 5 million dollars, while Blockstream will provide the infrastructure for the farm.

It is worth mentioning that this is not the only move made by companies involved in the crypto industry aimed at reducing the impact of crypto mining on the environment. For example, cryptocurrency mining company Argo and technological firm DMG are working on an hydro-powered Bitcoin mining farm.

Tesla recently announced it had decided to stop accepting BTC as a payment method because of the environmental impact of the mining of the crypto. Who knows, maybe initiatives like this might change its mind.