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Twitter owner Jack Dorsey’s payments venture Square announced on Saturday it will partner with blockchain technology firm Blockstream Mining to build an open-source, solar-powered bitcoin mining facility in the U.S., aiming to drive adoption and efficiency of renewables within the bitcoin ecosystem.
The initiative comes weeks after
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Square will invest $5 million in the facility that will “demonstrate how bitcoin mining in conjunction with renewable energy can help drive clean energy transition,” a company statement said.
Also Read | Twitter may let users receive payments from followers, may hold bitcoin
Bitcoin mining has been criticised by several experts worldwide for its
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Musk has also decried bitcoin’s “insane” energy usage , especially the use of coal which has the worst emissions among fossil fuels.
Dorsey said on Friday that Square is considering making a hardware wallet for bitcoin, that will be built in the open and in collaboration with the community. The company bought $50 million in bitcoin in October last year , and tripled its investment in cryptocurrency with a purchase of bitcoin worth $170 million in February this year.