Square inc, a financial services and mobile payment company owned by Jack Dorsey and Mckelvey, wants to invest $5 million in a solar project for Bitcoin mining platform Blockstream.
“Together, we plan to provide public transparency by sharing the project economics and knowledge we’ve gained from building a Bitcoin mine powered by renewable energy,” Blockstream’s chief information officer, Chris Cook, said.
Cook said the partnership will help showcase how using renewable energy to mine cryptocurrency can ” help drive the clean energy transition”
“Ultimately, we hope to demonstrate how bitcoin mining in conjunction with renewable energy can help drive the clean energy transition,” Cook said.
The project will feature a platform where investors can monitor the status and performance of the mining facility in real time.